Dubai: How to buy DEWA shares, minimum investment required; all you need to know

Dubai: How to buy DEWA shares, minimum investment required; all you need to know

The flotation is a big opportunity for shareholders to reshape emirate’s future that will help to further develop its financial market

Published: Wed 16 Mar 2022, 8:08 PM

Dubai Electricity and Water Authority (DEWA) on Tuesday announced its intention to proceed with an initial public offering (IPO) and to list 6.5 per cent of its ordinary shares for trading on the Dubai Financial Market (DFM). This is in line with new strategic directions to develop the emirate's financial market and as part of the Dubai Markets Supervisory Committee's strategy.

What’s the big idea?

DEWA is the first Dubai government entity to issue an IPO on the DFM. It is learnt that the listing will be carried out gradually due to its massive asset portfolio. Though DEWA is offering 3.25 billion shares, it’s unclear how much money it aims to raise.

How can shareholders reshape Dubai’s future?

Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance, said: “As a central component of the Dubai economy, DEWA has a critical role to play in supporting the future growth of the emirate and its transition to a net zero economy by 2050. For DEWA’s potential new shareholders, this offering