ACWA Power shares soar 86% in 3 months

ACWA Power headquarters

ACWA Power shares hit an all-time high of SAR 107.40 today, Jan. 17.   

The stock rose less than 1% to close at a lifetime high of SAR 104, with a trading volume of nearly 4.1 million shares.   

Thus, the stock gained 86%, compared to the initial public offering (IPO) price of SAR 56.  

ACWA Power listed 81.2 million of its shares, or 11.1% of capital, on the Saudi Exchange (Tadawul) in October 2021. 

ACWA Power was established in 2008 in Riyadh when it acquired ACWA Power Projects, which was incepted in 2004. 

The company's core business activities include power generation, as well as distribution, water desalination, establishment as well as maintenance of electric power plants and transformers.

*The stock didn’t trade at IPO price of SAR 56

The following table shows the key financial indicators:

The Public Investment Fund owns 44.16% stake in ACWA Power: