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Aldar nets $953m in sales at Fahid

Aldar said 42 percent of the buyers are under the age of 45.

Qualcomm to Alphawave for $2.4 bn

The deal makes Alphawave the latest tech company to depart London.

Equinor signs $27 bn gas deal

The 10-year contract was signed with Centrica.

ADNOC Drilling secures $1.15bn contract

The contract for two jack-up rigs begins in the second quarter.

Etihad Q1 profit $187 million

This is a 30% YoY increase over Q1 2025.

DEWA shares drop 2.8%

The state-owned utility raised $6.1 billion and attracted orders valued at $86 billion from investors.
By TRENDS Desk
October 20, 2022 11:55 am
  • There were over 6.5 million shares traded by 11:37 a.m. local time, with the average volume on the stock declining since it was listed
  • The decline came in reaction to fears of an economic slowdown amid tighter monetary policy, causing global financial markets to see volatility

Dubai, UAE— Dubai Electricity and Water Authority’s shares tanked 2.8 percent to 2.47 dirhams ($0.67) on Wednesday, compared to the IPO price of 2.48 dirhams.

The company went public six months ago.

There were over 6.5 million shares traded by 11:37 a.m. local time, with the average volume on the stock declining since it was listed.

The decline came in reaction to fears of an economic slowdown amid tighter monetary policy, causing global financial markets to see volatility. Dubai’s benchmark index has lost about 5.5 percent since the utility firm went public.

DEWA was one of the largest IPOs of the year globally. The state-owned utility raised $6.1 billion and attracted orders valued at $86 billion from investors.

This offering marked the biggest regional IPO since Saudi oil giant Aramco raised over $25 billion back in 2019.

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