Following the offer, the Dubai Electricity and Water Authority (DEWA) will maintaindiva) holds a 56% stake in the company, while the company keeps "Power of the Emirates" of 24 per cent of the company’s capital.
The shares are expected to start trading "Upgrade" At the Dubai financial market on November 15, the company’s market value at the time of listing will be AED 13.3 billion ($ 3.6 billion).
The company said the offer was highly rated by investors and the total subscription demand was over 124.6 billion dirhams ($ 33.9 billion) at the final offer price, with a hedging rate 47 times, for all segments.
He added it "The high interest reflects high investor confidence in the long-term growth prospects and strong infrastructure of the Emirate of Dubai".
And"Upgrade"founded in 2004, it is the fourth state-owned entity seeking to list its shares in Dubai this year as part of a program to increase investor interest in the local stock exchange.
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The company said in a statement on its website that it set the final price of the offer at 1.33 dirhams ($ 0.36), which is the upper end of the previously announced price range, after completion. the drafting of the register subscription order and the public offer process.
After increasing the offer size twice, the company offered 2 billion shares, equal to 20% of the total capital.
Following the offer, the Dubai Electricity and Water Authority (DEWA) will maintaindiva) holds a 56% stake in the company, while Emirates Power holds 24% of the company’s capital.
The shares are expected to be traded. “UpgradeOn the Dubai financial market on November 15, the company’s market value at the time of listing will be AED 13.3 billion ($ 3.6 billion).
The company said the offer was highly rated by investors and the total subscription demand was over 124.6 billion dirhams ($ 33.9 billion) at the final offer price, with a hedging rate 47 times, for all segments.
“The high interest reflects investor confidence in the long-term growth prospects and strong infrastructure of the Emirate of Dubai,” he added.
AND”UpgradeFounded in 2004, it is the fourth state-owned entity looking to list its shares in Dubai this year in a program aimed at increasing investor interest in the local stock exchange.
