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.