UAE: Dewa IPO to become largest ever in EMEA region

rejitha_cybolink April 7, 2022

Less than a minute

Dubai Electricity and Water Authority PJSC “Dewa” on Wednesday announces that, following the completion of the book building and subscription process for its initial public offering (“IPO”), it has set the final offer price for its IPO at Dhs2.48 per share.

A total of 9 billion ordinary shares, representing 18% of Dewa’s issued share capital, were offered, which will generate approximately Dhs22.3 billion ($6.1 billion) of gross proceeds for the selling shareholder upon settlement.

Upon completion, the DEWA IPO will become the largest ever IPO in the UAE and the largest in the Europe, Middle East and Africa region so far in 2022.