September 20, 2018 / 11:05 AM / in a month

Saudi's ACWA Power delays plans for IPO - sources

DUBAI, Sept 20 (Reuters) - Saudi Arabian utility developer ACWA Power IPO-ACPO.SE has delayed plans for an initial public offering, originally envisaged for this year, sources familiar with the matter said on Thursday.

It is the latest company to delay a public listing in Saudi Arabia at a time when the government is focused on attracting more investment to the market under its push to move the economy away from a dependence on oil revenues.

A spokesman for ACWA Power declined to comment. The company has $30 billion of assets under management and counts Saudi sovereign wealth fund Public Investment Fund as a shareholder. (Writing by Tom Arnold; Editing by Mark Potter)

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