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21-03-14

Saudi ACWA chooses IPO advisor

(MENAFN) Saudi water and power project developer ACWA Power has announced the investment banking arm of Banque Saudi Fransi as the advisor of its debut share sale on the Kingdom's stock exchange, according to Arab News. The firm is known as one of the most eagerly-anticipated listings in the Kingdom's pipeline of initial public offerings (IPOs). The IPO is scheduled to take place before the end of 2015, said one of the banking sources.