INSEAD Day 4 - 728x90

Borouge okays $656m dividend

The company said dividend reflects its resilience

DEWA posts record H1 profit

Revenue reaches record $4.04 billion.

Tabreed H1 revenue $308m

Blurb: Profit reaches $52 million in H1

ADNOC L&S to expand fleet

It will acquire 11 carriers for $1.3bn.

Empower profit climbs 16%

Dubai district cooling demand lifts earnings

DEWA to be listed on Dubai Financial Market in coming months

  • The listing is part of the Securities and Exchange Higher Commission’s strategy to increase the size of the stock market in the Emirate to AED3 trillion
  • The move is likely to raise the competitiveness of bourses and encourage more initial public offerings

The Dubai Electricity and Water Authority (DEWA) will be listed on the Dubai Financial Market (DFM) in the coming months.

The listing is part of the Securities and Exchange Higher Commission’s strategy to increase the size of the stock market in the Emirate to AED3 trillion, raise the competitiveness of bourses and encourage initial public offerings (IPOs), said Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai and Deputy Prime Minister and Minister of Finance.

“DEWA is a key pillar of the development in Dubai. Investing in DEWA is an investment in Dubai’s future,” he said, adding that the listing will be carried out gradually due to DEWA’s huge asset portfolio.

The decision to list DEWA on the DFM is part of Dubai’s broader strategy to list other state-owned companies on the bourse.