Riyadh - Mubasher: SNB Capital has completed a SAR 7.10 billion ($1.90 billion) rights issue for ACWA Power on the Saudi Exchange (Tadawul), marking one of the region's largest capital increases by value.

The transaction involved issuing 33.93 million new shares at SAR 210 ($56) per share, raising ACWA Power’s share capital by 4.63%, according to a press release.

Investor demand was strong throughout the process, with subscription coverage exceeding 96% during the initial phase.

The subsequent rump offering was oversubscribed by 5.90 times, completing at an average share price of SAR 221.54 ($59).

It is worth highlighting that SNB Capital acted as lead manager, joint financial advisor, and lead underwriter.

Zaid Ghoul, Managing Director and Head of Investment Banking at SNB Capital, commented: “We remain committed to providing tailored capital markets solutions that enable sustainable growth, support economic diversification, and contribute meaningfully to the continued evolution of Saudi Arabia’s financial ecosystem.”

The company continues to support Saudi Arabia’s Vision 2030 by enhancing the Kingdom’s financial markets and providing world-class advisory services.

In the first half (H1) of 2025, ACWA Power posted SAR 908.97 million in net profits, reflecting an annual decline of 1.92% from SAR 926.79 million.