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DEWA Could Be The Biggest IPO In Dubai’s History: Here’s How To Subscribe
The DEWA IPO is the talk of the town, touted as potentially becoming the largest IPO in Dubai Financial History, with IPO size expectations exceeding AED7billion as of Thursday. Shares opened priced between Dh2.25-Dh2.48, an attractive price for buyers, but what does it all really mean?!
A while back Dubai Electricity and Water Authority PJSC (“DEWA”) formally announced its intention to float 6.5% of its issued share capital to be listed on the Dubai Financial Market (“DFM”).
You know it as Dubai Electricity Company and the Dubai Water Department. It’s now a globally-leading fully integrated utilities company and the exclusive provider of electricity and water to Dubai’s 3.5 million residents and millions of people who visit every year, it’s ALSO a globally leading fully integrated utilities company with total investment in gross property, plant and equipment of around AED 201 billion.
The DEWA UAE Public offering is open from March 24 until April 2 – Follow the steps below (via DEWA) to apply
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1. Make sure you have your DFM Investor Number (NIN)
If you don’t have a NIN, you can register for one instantly through eServices at DFM website or on the DFM Smart Services app.
2. Get information about the Company
Visit IPO webpage to get more information about the Company and its initial public offering by reading the Prospectus.
3. Make an informed decision
Once you have familiarised yourself with the Company, you can make an informed investment decision.
4. Subscribe to the Offering
If you have decided that you would like to invest, subscribe to the Offering through one of the Receiving Banks. Each Receiving Bank will have their own channels, but they typically include online, in a branch or through your bank relationship manager.
5. Allocation of shares
Once shares are allocated, you may or may not receive full allocation of your order. Any excess will be refunded to you.
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