ACWA Power rings the market opening bell at Tadawul

In celebration of its successful IPO

  
ACWA Power rings the market opening bell at Tadawul

Riyadh, KSA: ACWA Power, a leading developer, investor, and operator of power generation and desalinated water plants worldwide, rang the market opening bell at the Saudi Stock Exchange (Tadawul) at 10:00 am AST today. After a highly successful offering in which the institutional tranche was covered around 248 times, and the retail investor tranche saw a coverage of 1989.96%, the company’s shares are now traded on the Main Market of the exchange under the ticker symbol ACWA POWER.   

The bell ringing ceremony was attended by Engineer Khalid Abdullah Al-Hussan, Chairman of the Saudi Tadawul Group and Mr.Mohammed Al-Rumaih, CEO of Saudi Tadawul Group, as well as Mohammed Abunayyan, Chairman of ACWA Power, and Paddy Padmanathan, CEO of ACWA Power, alongside other leading board members and executives.

Mohammed Abunayyan, Chairman of ACWA Power, commented: “Today marks a historic moment for ACWA Power and all its employees - a proud moment that would not have been possible without Saudi Arabia’s robust economic landscape and the confidence of the local and international investors in our beloved Kingdom. On this special day for ACWA Power and our nation, my deepest gratitude and appreciation goes to His Royal Highness King Salman bin Abdulaziz Al-Saud, and the Crown Prince His Royal Highness Prince Mohammad bin Salman Al-Saud, for driving Saudi Arabia’s ambitious vision for the future. We also owe thanks to the CMA, the Saudi Stock Exchange Tadawul and all partners, institutions and our people who have greatly contributed to the success of our offering. It is a distinct pleasure to welcome new shareholders to the ACWA Power family as we continue to pave the way to a cleaner, greener future, supported by their trust and confidence in the bright future that lies ahead for us.”

He added: “Over our 17-year history, ACWA Power has grown into a leading player in the power, water, and hydrogen driving the transition across the world by supplying power and water reliably, responsibly, and at low cost. Our purpose has always been to support the sustainable social development and economic growth of nations and the wellbeing and happiness of communities across the world according to robust foundations of societal, environmental, and governmental standards.”

-Ends- 

Media contacts:
ACWA Power
Sabina Khandwani
Director - Marketing & Communications
SKhandwani@acwapower.com
+971 56 507 5710    

Hill+Knowlton Strategies
Marwan Abu-Ghanem
Regional Director – Media and Editorial
marwan.abu-ghanem@hkstrategies.com
+971 55 910 8924

For more information, please visit www.acwapower.com 

Send us your press releases to pressrelease.zawya@refinitiv.com

© Press Release 2021

Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.

The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.

To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.


More From Press Releases