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Corrected: Exclusive - Saudi Arabia's ACWA Power invites banks to arrange IPO - sources


(Corrects monetary size of IPO, adds company statement)By Hadeel Al Sayegh and Tom ArnoldDUBAI (Reuters) - Saudi Arabia's ACWA Power has invited banks to bid to arrange an initial public offer of its shares, which is expected to raise up to $1 billion, sources told Reuters on Wednesday.ACWA Power, a developer of electricity and water projects in the Middle East, Africa and southeast Asia, sent a request for proposals to banks last week, the sources said, declining to be named because of the commercial sensitivity of the matter. The company did not immediately respond to a request for ...

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First Published: Thu, January 11 2018. 12:56 IST