DEWA listing set to revive, revitalise Dubai Financial market: experts – ArabianBusiness

DEWA listing set to revive, revitalise Dubai Financial market: experts – ArabianBusiness

Dubai Electricity and Water Authority PJSC’s (DEWA) listing on the Dubai Financial Market (DFM) is set to revitalise the city’s stock exchange and create precedent for future investments, senior economists told Arabian Business.

DEWA has indicated it would be floating 6.5 percent of its issued share capital, totalling 3.25 billion shares, in the latest of IPO by a UAE government-owned entity.

“After a series of disappointing Greenfield IPOs in Dubai in 2014, the like of Marka, DEWA is planning a listing in an attempt, in our view, to revive an otherwise dry market. There are no shortages of IPOs in the region especially in KSA and Abu Dhabi Securities Exchange (ADX). Therefore DEWA needs to offer an attractive yield and leave something on the table for investors,” said Majd Dola (CFA), equity portfolio manager at First Abu Dhabi Bank.