Shares of ACWA Power close at all-time high

18/07/2023 Argaam Special
Logo ofACWA Power

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.

 

ACWA Power's Stock Performance

Annual high (SAR)

195.00

Today, July 18, 2023

Annual low (SAR)

128.00

Dec. 6, 2022

Historical high (SAR)

195.00

Today, July 18, 2023

Historical low (SAR)

63.30*

Oct. 13, 2021

Highest trading volume (mln shares)

43.26

Oct. 12, 2021

 * The stock did not trade at the offering price of SAR 56.

 

Key Financial Indicators

EPS (last 12 months) (SAR)

2.27

P/E (last 12 months) (x)

Greater than 50

Book value (SAR)

25.02

P/B ratio (x)

7.55

 

The Public Investment Fund (PIF) holds the company’s largest ownership share, or 44.16%, as shown in the following table:

 

Major Shareholders

Shareholders

Ownership

No. of Shares (mln)

Ownership Percentage

PIF

322.88

44.16% 

Roya Real Estate Investment

166.32

22.75% 

Al Rajhi Holding Group

81.91

11.20% 

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