Dubai Electricity and Water Authority (DEWA) has increased its initial public offering (IPO) size to 17% from 6.5%, the company said on Tuesday, meaning it could raise as much as $5.7 billion.
The state utility firm said in a statement it increased the size of the tranche reserved for institutional investors from 5.9% to up to 16.4%.
The tranches for retail investors and employees will remain the same.
