UAE’s DEWA IPO subscription period opens

UAE’s DEWA IPO subscription period opens

WAM: Dubai Electricity and Water Authority PJSC (DEWA or “the Company” or “the Group”), the exclusive provider of electricity and potable water in Dubai and the majority owner of Empower, the world’s largest district cooling services operator by connected capacity, announced the price range and start of the subscription period for its initial public offering (IPO or the Offering) on the Dubai Financial Market (DFM).

Saeed Mohammed Al Tayer, Managing Director & Chief Executive Officer of DEWA, said, “DEWA has a fundamental role to play in the growth of Dubai’s economy and is central to the Emirate’s transition to net zero carbon emissions by 2050. This IPO represents an opportunity for investors to participate in a unique growth story that is underpinned by the ambition of Dubai and the United Arab Emirates. Since announcing our intention to float on the Dubai Financial Market last week, we have received strong interest from local and international investors that recognise our determination to shape a green future for Dubai. ”