List and start trading the shares of Dubai Electricity and Water Authority in “Dubai Capital”

Dubai (Etihad)
Today, trading of shares of Dubai Electricity and Water Authority (“DEWA” or “the Company”) on the Dubai Financial Market began under the symbol “DEWA”.

With the completion of its listing, Dubai Electricity and Water Authority became the largest listed company in the market with a market value of 124 billion dirhams ($ 33.8 billion) based on its final offer price, which last week was 2.48 dirhams per share. has been determined. .
The offer included the sale of the company’s 9 billion shares, representing 18% of its issued capital, bringing the total return on offer to 22.3 billion dirhams ($ 6.1 billion), with the Dubai government holding a stake representing 82% of the company’s issued capital, and Dubai Electricity and Water Authority’s initial public offering became the largest The public offering in the history of the capital markets in the United Arab Emirates and the largest in the EMEA region since the beginning of 2022.

DEWA saw strong demand and exceptional demand for its shares from various investor segments as it received entry requests that exceeded the offered shares by 37 times (excluding the main and strategic investors). His Excellency Saeed Mohammed Al Tayer, Managing Director and CEO of Dubai Electricity and Water Authority, the opening bell of trading at the Dubai Financial Market to celebrate the listing, in the presence of His Excellency Helal Al Marri, Chairman of the Board of Dubai Financial Market, and Hamed Ali, Chief Executive Officer of Dubai Financial Market and Nasdaq Dubai, along with a number of officials.
His Excellency Saeed Mohammed Al Tayer, Managing Director and CEO of Dubai Electricity and Water Authority, said:
“The listing of Dubai Electricity and Water Authority on the Dubai Financial Market today is the beginning of a new chapter in the government’s success and growth story, and I would like to express my deepest thanks and appreciation to His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council, and His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance, for their unrestricted support to the Authority. As the exclusive provider of electricity and water services in Dubai, the government has been and remains a major contributor to the emirate’s comprehensive development process and an integral part of its booming economy. The broad interest we have seen from institutional and individual investors reflects the great confidence in the government as a leading global utility company. We are proud to offer investors the opportunity to be part of the future of the government and its important role in supporting Dubai’s growth and the transformation of the energy sector in the emirate. ”
Hilal Al Marri, Chairman of the Dubai Financial Market Board of Directors, said: “We are pleased to welcome the listing of Dubai Electricity and Water Authority (DEWA) shares on the Dubai Financial Market. This listing gives great impetus to the market strategy aimed at diversifying sectors through public offerings and listings of leading companies belonging to various economic sectors, thus strengthening the presence of these sectors in the market, especially as they ‘ plays a major role in economic growth in Dubai and the UAE. Moreover, this crucial step is a reflection of the vision of the wise leadership and the implementation of Dubai’s strategy aimed at developing its financial markets and improving its position as a key global center for capital markets. This public offering undoubtedly reflects the great confidence that various companies place in the Dubai Financial Market and the world-class infrastructure and regulatory infrastructure that it provides to listed companies, advanced services and its ownership of a large and diversified investor base, which makes it the preferred choice. for companies to implement public offerings and raise the necessary funds to implement growth strategies.
In turn, Hamed Ali, CEO of the Dubai Financial Market and Nasdaq Dubai, said: “The offering and listing of the Dubai Electricity and Water Authority on the Dubai Financial Market offers investors in general and income investors in particular the opportunity to share to take on the success and growth of one of the most essential sectors, as the public utility sector is characterized by Usually with stability and sustainable growth. Of course, this listing and the subsequent similar listings within the Dubai Government’s plan to list ten companies will help expand and deepen the market and diversify investment opportunities. We are optimistic about the future prospects of IPOs and market listings in light of the ongoing contact with many companies seeking to expand and develop their businesses, driven by the growing confidence in the national economy, and enthusiastic to benefit from the many regulatory developments. recently launched, which has increased the attractiveness of the market and given these companies Several alternatives for implementing this strategic step.
It should be noted that the shares of the Dubai Electricity and Water Authority are included in the public utility sector, without the application of the approved price limits for the movements of shares on the first trading day, provided that they are applied on the day follows the listing, noting that the listing price of the stock was 2.48 dirhams.

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