Bloomberg: IPOX® Research Associate Lukas Muehlbauer on ACWA Power’s Rights Issuance
In a recent Bloomberg article, IPOX® Research Analyst Lukas Muehlbauer commented on the significant rights issuance planned by Saudi Arabia's ACWA Power Co. The utility company is set to undertake the Middle East's largest such deal since 2023, aiming to raise $1.9 billion to fund its strategic expansion.
The article highlights that ACWA Power's offering is a key indicator of companies returning to the equity market to finance growth post-IPO. Despite a recent decline in its share price, the company's stock has seen substantial gains since its 2021 IPO. The funds raised will support expansion in Asia and advance Saudi Arabia's "Vision 2030" economic diversification plan, which heavily features renewable and clean energy projects.
Dr. Muehlbauer provided expert commentary on the deal's potential market impact.
“ACWA Power is one of the few highly liquid domestic pure-play renewable investment opportunities,” said Muehlbauer. “A successful outcome would send a strong positive signal to pave the way for further Vision 2030-related IPOs.”
Read the full article on the Bloomberg Terminal (Subscription Required): https://blinks.bloomberg.com/news/stories/SYTIDSDWX2PS
Article by Laura Gardner Cuestra
