RIYADH: ACWA Power will enter Saudi Arabia’s main market under the “fast entry methodology” from the start of trading on Monday, October 18.
It is also set to join the Utilities Industry Group Index, the Kingdom’s bourse Tadawul announced.
Riyadh-based ACWA, nearly half-owned by the Public Investment Fund, saw its shares jump by 30 percent on debut on Tadawul on Monday.
The market value of the company increased by $3 billion in the first few minutes of trading, Al-Arabiya reported.
ACWA is selling an 11.1 percent stake at SR56 ($14.93) per share, the top end of the offer range.