The CEO of the Emirates Central Cooling Systems Corporation (Empower), Ahmed Shafar, said that the company plans to offer 10% of its shares for subscription on the Dubai Financial Market, which represents one billion shares of capital stock with a nominal value of 10 fils per share.
Ahmed Shafar, CEO of Empower, said today, Monday, that the listing of the company's shares on the Dubai Financial Market will be on November 16.
The subscription for Empower shares will start on October 31 until November 7 for individuals and November 8 for qualified investors to list its shares on the Dubai Financial Market.
Empower expects cash dividends of 850 million dirhams in the first two years, with cash dividends to be distributed twice a year.
Empower is the fourth entity linked to the UAE that seeks to list its shares on the Dubai Financial Market this year, in a program aimed at attracting investors' interest in the local stock exchange.
Last November, Maktoum bin Mohammed, Deputy Ruler of the Emirate of Dubai, announced plans to offer 10 government-related entities for public subscription as part of a program aimed at enhancing stock market activity.
