Logo of ACWA Power

Shares of ACWA Power, listed under Power and Utilities sector, rose today, July 18, to hit an all-time high of SAR 195 apiece, with nearly 845,000 shares changing hands.

The stock retreated by 0.03% and closed at SAR 161.5.

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

Based in Riyadh, ACWA Power was established in 2008 to acquire Arabian Water and Energy Works Co., which was incepted in 2004, as part of the Kingdom’s water and electricity sector privatization plan.

The company's core activities are electric power generation, distribution and wholesale of electrical energy, water desalination, establishment, repair and maintenance of electric power plants and transformers, and wholesale of desalinated water.