ACWA Power plans to raise $1 bln via sukuk issue early 2021: report

23/11/2020 Argaam

Riyadh-based ACWA Power is planning to raise about $1 billion by selling sukuk early next year, Bloomberg reported, citing people familiar with the matter.

 

The sukuk will be used to help fund the company's share of an $8 billion acquisition of gasification and power assets at Jazan on the Kingdom's west coast.

 

ACWA Power appointed the Saudi unit of HSBC Holdings Plc and Samba Capital to advise on the issuance, the report noted.

 

On Sunday, company chairman Mohammad Abunayyan said that firm is expected to offer part of its shares in an initial public offering (IPO) in 2021.

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.