ACWA Power’s Major Shareholder Al Rajhi Holding Group Plans to Transfer Ownership of Its Shares

Saudi ACWA Power is set for a change in its major shareholder list as Al Rajhi Holding Group, with an 11.205 percent stake, plans an internal transaction, transferring ownership to the investment portfolios of its affiliated companies.

In a bourse filing, ACWA Power stated that it has received a letter from Al Rajhi expressing its intent to carry out the transaction to distribute its shares in the utility firm among the shareholders of its affiliated companies.

The power company’s stock price on Tadawul experienced a slight increase of 0.09 percent, reaching SR234.60 ($62.55), as of Dec. 10 at 12:23 Saudi time.

Source: Arab News