Today, Monday, the subscription period for Emirates Central Cooling Systems Company (Empower) began on the Dubai Financial Market, by offering one billion shares of the company's shares, representing 10% of its capital.
The shares offered by (Empower) were divided into two tranches, one of them for individuals, and 10% of the offered shares were allocated to it, compared to 90% for professional investors.
Each subscriber of the first tranche will be allocated a guaranteed minimum of 1,000 Empower shares.
Empower announced in the middle of last week that it plans to offer 10% of its capital, which represents one billion shares, with a nominal value of 10 fils.
Earlier this month, the CEO of Empower, Ahmed Shafar, said that the listing of the company's shares on the Dubai Financial Market will be on November 16, 2022.
(Empower) expects cash dividends of 850 million dirhams in the first two years, provided that cash dividends will be distributed twice a year.
