iPhone | iPad
Android
Huawei
The unique showcase brings together a diverse lineup of comedians from India and Pakistan, promising an hour of non-stop entertainment
KT APPDOWNLOAD
Multiply Group to invest Dh367 million in Dewa’s initial public offering
The latest investment follows a series of strategic acquisitions to pursue growth across five vertical segments
File
Multiply Group, a technology-enabled holding company based in Abu Dhabi, today announced that it will be investing Dh367 million into the Dubai Electricity and Water Authority's (Dewa's) landmark initial public offering as a cornerstone investor.
The Group's latest investment follows a series of strategic acquisitions, creating a unique technology-enabled ecosystem to pursue growth across five vertical segments: media and communications, utilities, ventures, wellness and beauty, and digital economy.
The past year saw Multiply Group acquire stakes in UAE-based assets with substantial earning potential and international high growth firms, including US vehicle-focused digital media platform Firefly, global visual content firm Getty Images, Rihanna's direct-to-consumer e-commerce fashion firm Savage X Fenty, PAL Cooling Holding, Emirates Driving Company, and Viola Communications.
Samia Bouazza, CEO and Managing Director at Multiply Group, said, "Our interest in Dewa's public offering is driven by our confidence in the UAE's economy. Dewa has successfully cemented its position as one of the region's leading fully integrated utility companies by capitalising on its strong market fundamentals and state-of-the-art infrastructure.
ALSO READ:
"The company's unique positioning, attractive financial profile and clear strategic objectives make it an attractive investment for Multiply Group. Furthermore, as regional capital markets continue to perform favourably, we believe that our investment into Dewa will generate substantial value for our shareholders."
Multiply Group benefits from a solid leverage-free liquidity position, having raised Dh3.1 billion in a pre-listing private placement 16 times oversubscribed. The company's strategy is to pursue profitable growth through a diversified portfolio, striking a balance between steady companies that generate recurring income and high-growth businesses.
More news from
Work teams across all customs centres continued to process cargo clearance and inspections
The UN chief urges international community to work together to prevent any actions that could push the entire Middle East over the edge
This punishment sent out a message to all teams of the importance of maintaining a healthy pace throughout a match
Only 10 of Gaza's 36 hospitals are currently even partially functioning
The updated Meta AI assistant will be given more prominent billing within Meta's Facebook, Instagram, WhatsApp and Messenger apps
The McLaren driver saw his fastest lap time deleted and then reinstated in the final minutes of the session as he edgec Hamilton in his Mercedes by 1.261 seconds
Sharafu’s unbeaten 55 ensured UAE would post a comfortable victory in the ACC Men’s T20 Premier Cup in Oman
