Saudi company Aqua Power submits a request to increase its capital by 7.12 billion riyals.

Saudi company ACWA Power announced that it has submitted an official request to the Capital Market Authority to increase its capital by 7.12 billion Saudi Riyals through the issuance of preferred shares, according to a disclosure published on the Saudi stock market website today, Thursday.

The company explained that this move is part of its strategy to enhance the growth of its investment portfolio and maintain the strength of its financial position, thereby supporting its long-term strategic goals.

Additionally, ACWA Power expects its annual investments to rise during the period from 2024 to 2030 to range between 2 and 2.5 billion dollars annually, compared to previous rates that ranged between 1 and 1.3 billion dollars annually.

Regarding stock performance, ACWA Power's share (TADAWUL: 2082) recorded a decline of 1.45%, equivalent to 5.60 Riyals, reaching a level of 380.20 Riyals during trading on the Saudi stock market today.

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