Dubai Electricity and Water Authority, DEWA, intends to proceed with an initial public offering (IPO) of part of its ordinary shares and to list it on the Dubai market, as part of the new strategic directions for developing the capital markets in Dubai As part of the strategy of the Dubai Capital Markets and Exchanges Development Committee.
DEWA is the exclusive provider of electricity and water services in the Emirate of Dubai and the majority owner of the Emirates Central Cooling Systems Corporation (Empower).
The authority said in a statement, today, Tuesday, that 3.25 billion shares will be made available for public subscription, representing 6.5% of the total issued shares in the capital of the Electricity and Water Authority. Dubai.
The listing of the shares and the start of trading on the Dubai Financial Market is expected to be completed in April 2022.
The period for individual subscriptions in the Offering Shares is expected to begin on March 24, 2022 and end on April 2, 2022, while the period for eligible investors to subscribe to the Offering is expected to begin on 24 March 2022 and ends on April 5, 2022.
Dividends will be distributed twice a year, in April and October, according to the company's statement.
