H.H. Sheikh Maktoum bin Mohammed announces listing of DEWA on Dubai Financial Market in coming months

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DUBAI, — H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister, Minister of Finance, announced that 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).

Sheikh Maktoum highlighted the pivotal role that DEWA has played over the past decades and praised its contribution to Dubai’s development. “DEWA is a key pillar of the development in Dubai. Investing in DEWA is an investment in Dubai’s future.”

His Highness added that the listing will be carried out gradually due to DEWA’s huge asset portfolio.

The DEWA listing, which will allow investors to access shares in profitable companies, represents a major step that will support the financial markets in the Emirate. Dubai plans to list other state-owned companies on the DFM as part of a broader strategy.

Courtesy: www.wam.ae

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