ACWA's shares rose to 72.80 Saudi riyals in early trading, compared with the price at its initial public offering of 56 riyals a share.
ACWA, which builds, operates and invests in renewable energy plants, priced its IPO at the top of the range last month, successfully raising $1.2 billion from investors, the biggest since but dwarfed by Saudi Aramco's $29.4 billion IPO. Saudi Arabia's stock market has risen by more than 33% this year, helped by higher oil prices and an economic recovery from last year's COVID-19 linked contraction.
A slew of listings are expected to come to Riyadh's bourse over the next 12 months, including the stock exchange Tadawul itself, and the specialty chemicals business of Saudi Basic Industries Corp.Saudi Arabia's Capital Markets Authority said in September that around 45 companies were waiting for approval to list.More from ReutersSubscribe for our daily curated newsletter to receive the latest exclusive Reuters coverage delivered to your inbox.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
EXCLUSIVE Indian states suffer power cuts as coal stocks shrinkNorth Indian states have suffered electricity cuts and face further outages because of a lack of coal, an analysis of government data and interviews with residents found, contradicting government assurances there is enough power.
Source: Reuters - 🏆 2. / 97 Read more »
Japan stocks set for higher open; South Korea's markets closed for holidayMarkets in South Korea are closed on Monday for a holiday. nice
Source: CNBC - 🏆 12. / 72 Read more »
How stock-market investors can make sense of supply-chain chaosA stunning backlog of ships and stacks of shipping containers at major ports aren't something investors can ignore. But they should think twice before... this is terrible news One of the country's biggest problems and Biden never mentions it.
Source: MarketWatch - 🏆 3. / 97 Read more »
Stick to broad commodities exposure amid China's power crunch, market analyst saysExchange-traded fund investors shouldn't try to slide and dice the commodity trade at this juncture, ETF Trends' Dave Nadig says. ETFEdgeCNBC I thought old Jimbo Cramerica said China won’t effect us 😂 ETFEdgeCNBC Bitcoin I’m doing $1,000 Challenge To $10,000 target In the next 1 week. We will work on Binancefuture & Coin-Pumps 30%+ daily earnings, Started 1 Weeks Ago, Already At $3,000 📲Who Wants To Join Us Can Contact Me, For More Info FastMoney ETFEdgeCNBC check the chin diaper… he only uses it when COVID is approaching.
Source: CNBC - 🏆 12. / 72 Read more »