The Dubai Electricity and Water Authority PJSC (DEWA), the exclusive provider of electricity and potable water in Dubai and the majority owner of Empower, the world's largest district cooling services operator by connected capacity, announced on Thursday the price range and start of the subscription period for its initial public offering (IPO) on the Dubai Financial Market (DFM), reported the United Arab Emirates' state news agency (WAM).
Saeed Mohammed Al Tayer, Managing Director and Chief Executive Officer of DEWA, said: "DEWA has a fundamental role to play in the growth of Dubai’s economy and is central to the Emirate’s transition to net zero carbon emissions by 2050. This IPO represents an opportunity for investors to participate in a unique growth story that is underpinned by the ambition of Dubai and the United Arab Emirates. Since announcing our intention to float on the Dubai Financial Market last week, we have received strong interest from local and international investors that recognize our determination to shape a green future for Dubai."
