ACWA Power is expected to offer part of its shares in an initial public offering (IPO) in 2021, Al Arabiya TV reported, citing Chairman Mohammad Abunayyan.

 

He added that the offering will be limited to the Saudi market, adding the size of the offering hasn’t been determined yet.

 

The projects, completed or under construction, totaled $59 billion, comprising a portfolio of 57 assets, Abunayyan said, noting that the Kingdom dominates the largest portion of them.

 

According to data compiled by Argaam, the Public Investment Fund (PIF) raised its stake in ACWA Power from 33.36% to 50%.

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