In total, 94 nationalities invested in Sharjah during the first quarter of 2024
Dubai Electricity and Water Authority (Dewa) on Thursday announced the sale of its shares priced between Dh2.25 and Dh2.48 per share.
Priced attractively below Dh3 per share, both expat and Emirati investors, as well as institutional investors, can subscribe to the initial public offering (IPO).
Retail investors can subscribe to Dewa’s shares through a number of local banks including Emirates NBD, Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, Ajman Bank, Al Maryah Community Bank, Dubai Islamic Bank, Emirates Islamic Bank, First Abu Dhabi Bank, Mashreq Bank and Sharjah Islamic Bank.
According to Dewa, retail investors can subscribe to shares until April 2, while institutional investors can subscribe till April 5.
“Since announcing our intention to float on the Dubai Financial Market last week, we have received strong interest from local and international investors that recognise our determination to shape a green future for Dubai,” said Saeed Mohammed Al Tayer, managing director and CEO of Dewa.
A total of 3.25 billion shares, equivalent to 6.5 per cent of Dewa’s existing shares, will be offered for sale.
The final offer price will be determined through a book-building process and is expected to be announced on April 6, 2022. The stock is expected to be listed on the Dubai Financial Market on April 12, 2022.
ALSO READ:
Emirates NBD Capital has been appointed as the financial advisor while Moelis & Company UK DIFC Branch has been appointed as the independent financial advisor to Dewa.
Citigroup Global Markets Limited, Emirates NBD Capital Limited and HSBC Bank Middle East Limited have been appointed as Joint Global Coordinators, and Credit Suisse International, EFG-Hermes UAE Limited, First Abu Dhabi Bank and Goldman Sachs International have been appointed as Joint Bookrunners.
In total, 94 nationalities invested in Sharjah during the first quarter of 2024
The Parisians are on 69 points with four games left with Monaco trailing by 11 points
The health ministry has ensured the safety of 'a very limited number' of people who showed some symptoms of being affected by 'the mixed water'
The evening was a resounding success, boasting delectable cuisine, a lively ambiance, and impeccable service
Reds defeat at Everton extinguishes their last hopes of winning the Premier League
The destination was to originally close on April 28
The cashback is valid until May 12
Both BJP and Congress raised allegations of causing hatred and division based on religion, caste, community, or language