Tadawul announces ACWA Power’s fast entry to TASI on Oct. 18

ACWA Power headquarters

Saudi Exchange (Tadawul) announced that International Company for Water and Power Projects (ACWA Power) will join Tadawul All Share Index (TASI) and Utilities Industry Group Index under “fast entry methodology”, from the start of trading on Monday, Oct. 18.

Shares of ACWA Power debuted on the Saudi Exchange (Tadawul) today, Oct. 11, according to data compiled by Argaam.

The company’s shares rose their daily limit of 30% to reach SAR 72.80, an increase of SAR 16.80 compared with the listing price of SAR 56.

Nearly 8.7 million shares were traded through 30,300 transactions, at a value exceeding SAR 630 million.

In 2019, The Saudi Stock Exchange (Tadawul) updated its indices methodology for the development and management of Tadawul equity indices, under which shares of significantly massive IPOs join TASI at the close of the fifth trading day.

According to the updated mechanism, initial offerings with a market value of at least SAR 10 billion are eligible for fast entry to the main market index, and this has been applied to Saudi Aramco’s shares.