Please wait...
GulfBase Live Support
Leave a message and our representative will contact you soon
- Bahrain All Share Index closes higher
- Gulf Bank showcases banking services and red Account benefits for youth
- Ooredoo sells 6% stake in Meeza; to focus on expansion of Syntys
- Real estate prices in Oman rise 10.8% in Q2 2025
- FTSE Russell includes Al Mahhar Holding in global equity Index Series
- AD Ports breaks ground on $380m Angolan ports terminal
- Oman Investment Bank completes $190m bond issuance for Sindbad Overseas
- QSE ends three days of bull-run as index loses 41 points; M-cap melts QR1.28bn
- QIMC buys Qatar Oman Investment's 7% stake in QALEX
- QNB enables UPI acceptance in Qatar; Qatar Duty Free becomes 'first live' merchant
07/02/2018 05:12 AST
Saudi Arabia's sovereign wealth fund is nearing an agreement to buy about a 10 per cent stake in Acwa Power International ahead of an initial public offering by the Riyadh-based energy producer, said a report.
The Public Investment Fund (PIF) may sign an agreement with the power plant developer in the coming days, reported Bloomberg citing people with knowledge of the matter.
Talks are still ongoing and may not result in a deal, they said. It's not immediately clear what valuation Acwa Power could get from the investment.
The PIF is also a major investor in some of the kingdom's largest firms, including Saudi Telecom Company, Saudi Arabian Mining Company and National Commercial Bank.
It also took a 16.32 per cent stake in Almarai Company, the country's biggest dairy producer, last year as the government supports national companies and develops them into regional and global leaders.
The potential investment from PIF comes at a time when Acwa Power is making plans to raise more than $1 billion from an IPO, people familiar with the matter said last month.
The share sale would be one of the first to allow so-called qualified foreign investors to participate in an IPO in the kingdom, stated the report.
Started in 2004, Acwa Power owns conventional power, renewable and water desalination assets across the Middle East, as well as projects in Vietnam and South Africa. It's one of the largest electricity generation companies in the Middle East, both in conventional and renewable energy.
Trade Arabia
22/08/2025
Saudi utility giant ACWA Power has commenced commercial operations at three solar power plants in Saudi Arabia, with a combined capacity of 2.79 gigawatts, the company said in statements to Tadawul.
Arab News
29/07/2025
Acwa Power, the world's largest private water desalination company, leader in energy transition and first mover into green hydrogen, has announced the successful completion of its SAR7.13 billion ($1
Trade Arabia
21/07/2025
Acwa Power has signed key project agreements with the Government of Senegal for the Grande-Côte seawater desalination project.
The project, powered by renewable energy, is set to secure up
Trade Arabia
| Ticker | Price | Volume |
|---|
| Ticker | Price | Change |
|---|---|---|
| TAQA | 3.47 | 0.00 (0.00 |
| DEWA | 2.75 | 0.00 (0.00 |
| SAUDIELECTRICITY | 14.88 | 0.22 (1.50 |
| EMPOWER | 1.62 | -0.01 (-0.62 |
| MARAFIQ | 38.26 | 0.12 (0.31 |
22/09/2025
Gulf Bank announced its sponsorship and participation in the orientation event for new students organized by the American University of Kuwait, as part of its ongoing commitment to engage with new st
Kuwait Times
22/09/2025
Ooredoo Group has sold a minority 6% stake in Meeza- QSTP, Doha's leading managed information technology services and solutions provider, to certain funds managed by Fiera Capital (UK) at the current
Gulf Times
22/09/2025
Al Mahhar Holding Company, a public shareholding company providing specialised services and products to the energy and infrastructure sectors, has been included in the FTSE Russell Global Equity Inde
Gulf Times
22/09/2025
AD Ports Group has laid the foundation stone for the Noatum Ports Luanda Terminal at the Port of Luanda, marking the commencement of one of the most significant port modernisation and expansion proje
Trade Arabia
22/09/2025
Qatar Industrial Manufacturing Company (QIMC) has signed an agreement to purchase a 7% stake held by Qatar Oman Investment Company in Qatar Aluminum Extrusion Company (QALEX), bringing its total stak
Gulf Times
Financial Information Co.
P.O. Box 69410, Jeddah 11547, Saudi Arabia