“Acwa Power” Relinquish as many as 81.2mln Shares

“Acwa Power” announced the most important dates, for the relinquishment of as many as 81.2 million of its shares.

The most important dates for the release of 81.2 million shares of “Acwa Power” stock have been announced.

The period of registration of applications and building a record of orientations for the participating groups, has beung runnig for 13 days, as of September 15 to September 27.

Individual investor can sign up for a 3-day apply starting September 29 to October 1.

According to the prospectus, the last date for submitting the registration application form, for the participating categories shall be on September 30^th, to next October 1.

In addition, the final allotment of the offering shares will be announced on October 4, and the excess applicable amounts will be returned on October 5.

The deadline for submitting application form for the participating categories, according to the prospectus, is September 30th.

Individuals will begin on October 1st. Furthermore, on October 4, the final allotment of the offering shares will be disclosed and the excess applicable amounts will be reimbursed, on October 5.

It is expected that shares will start trading in the market, after fulfilling all requirements and completing relevant regulatory procedures, as well.

The start of trading in shares will be announced on the “Tadawul” website.

Expected Registration timetable

Number of registered for the offering shares shall be limited to two categories: (A) tier of the Participating Categories: This segment includes the categories that are entitled to participate in the construction of the directive register, in accordance with the instructions for the construction of the directive register.

And the allocation of shares in the initial registration issued by the Capital Market Authority (hereafter referred to as the “Participating Classes”).

The number of offering shares that shall be allocated to the participating classes in the beginning is 81,199,299, i.e. (Eighty-one million one hundred and ninety-nine thousand two hundred and ninety-nine) shares. representing 100% of the total offering shares.

The registration manager and institutional registry managers shall have the right to reduce the number of offering shares allocated to the participating classes to 73,079,370 (seventy-three million and seventy-nine thousand three hundred and seventy) shares, representing (90%) of the total offering shares, in case of a sufficient request from individual registrants.

Using the voluntary allocation process, the financial advisors will determine the quantity and percentage of Offer Shares, that shall be allocated to the participating classes, in conjunction with the company.

Category (B): Individual registrants: This category includes Saudi natural people.

As primary registrants, a Saudi woman, who is divorced or widowed with minor children from a non-Saudi husband is not included.

As long as her minor children have proof of her divorce or widowhood, as well as proof of her motherhood.

Non-Saudi residents and citizens of Gulf Cooperation Council nations, who have a bank account with one of the receiving agencies are also eligible to open an investment account with them.

(Hence referred to collectively as “Individual Registrar” and individually as “Individual Registrar”).

They are referred to as “investors” or “registrants” in conjunction with the participating categories.

Every person registered in the name of a free woman shall be subject to the cancellation of registration.

If it is demonstrated that such a procedure was followed, the system shall be applied on the applicant.

If you register more than once, the second one shall be considered canceled.

The first registration is the only one that is taken into consideration.

A maximum of 8,119,929 (Eight million one hundred and nineteen thousand and nine hundred and twenty-nine) shares, will be distributed to individual registrants, representing (10%) of the offering shares.

If individuals do not register for the entire number of shares at their avail, the financial advisers, international coordinators, local coordinators, and directors of the Institutions Registry may reduce the number of shares allotted to them, to match the number of shares subscribed.

The significant shareholders (those who owned 5% or more of the company’s share capital before the offering) shall own a total of 78.1 percent of the shares, after the offering is completed.

The underwriters have fully covered the offering. For a period of six (6) months following the start of trading on the Saudi Tadawul (the “ban period”), major shareholders are barred from selling their shares.

Following the prohibition period, large shareholders, such Public Investment Fund, Investment Vision Company and Al Rajhi Group Holding Company, are included.

Over the next five years, after the offering close, the company shall use the net proceeds to strengthen its financial sheet and fund future initiatives, in the energy and water desalination industries.

The offer shares shall be offered through swap agreements (SWAPs) to certain eligible foreign financial institutions, located outside of the United States, and this class shall be registered outside the United States, in accordance with “S” issued under the US Securities Act of 1933 and its amendments (the “S” Act Money bills”).

The company’s shares are not and shall not be registered in the United States of America, under the Securities Act or any other applicable securities regulations.

The shares offered in this prospectus may only be offered or sold in the United States of America, in transactions that are exempt from or not subject to any registration requirements, under the US Securities Act or the securities legislation of any other nation, except the Kingdom of Saudi Arabia.

This offering is not considered an invitation to sell shares or an inducement to buy them, in any country, where this offering is not legal or not permitted.