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Asharq Al-Awsat
Asharq Al-Awsat
Business
Asharq Al-Awsat

Dubai Utility DEWA Rises 20% Above IPO Price

Shares in Dubai Electricity and Water Authority (DEWA) surged about 20% on their market debut on Tuesday after its $6.1 billion initial public offering (IPO).

The utility's shares rose to 2.98 dirhams ($0.8114) in early trade, up from the IPO price of 2.48 dirhams per share.

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