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Dubai utilities giant DEWA to go public as IPO boom gets underway

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A picture taken on March 25, 2020 shows a skyline of skyscrapers in the Emirati city of Dubai.

GIUSEPPE CACACE | AFP | Getty Images

DUBAI, United Arab Emirates — Dubai’s state water and power company DEWA will list on the Dubai Financial Market as soon as April, after announcing an ambitious share prospectus that could make it the largest public offering of its kind in the emirate.

DEWA, or the Dubai Water and Electricity Authority, plans to sell a 6.5% stake by offering 3.25 billion shares in its public offering. A price range is expected to be announced by March 24, and shares could list on the Dubai Financial Market (DFM) by April 12, according to its prospectus released…



Source cnbc.com

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