Sharjah24 - WAM: Burj Khalifa, the tallest building in the world, celebrated the listing of Dubai Electricity and Water Authority (DEWA) on the Dubai Financial Market (DFM) by showing a 3-minute video on the Burj.

The show was witnessed by Matar Humaid Al Tayer, Chairman of DEWA; Saeed Mohammed Al Tayer, MD&CEO of DEWA; Abdulrahman Saleh Al Saleh, Director-General of the Government of Dubai's Department of Finance; Essa Kazim, Governor of the Dubai International Financial Centre; Hamad Buamim, President and CEO of Dubai Chambers; Hamid Ali, CEO of the Dubai Financial Market; Hesham Abdulla Qassim Al Qassim, Vice Chairman and Managing Director of Emirates NBD Bank; DEWA’s Board Members, and DEWA management team. Officials from the Dubai Financial Market, the banks that took part in the listing process, and the consultants were also present.

Saeed Al Tayer commended the efforts of the Dubai Financial Market, and the teams from DEWA, the banks and consultants during the subscription process. He emphasised that the great success of DEWA’s IPO as the largest ever IPO in the UAE and the largest in the Europe, Middle East and Africa region so far in 2022, as well as the wide interest from local and international investors, affirms DEWA’s position of as a globally leading sustainable innovative corporation. It also underlines the attractiveness of Dubai as a global capital market.

"At DEWA, we work in line with the vision of the wise leadership to develop a state-of-the-art infrastructure to provide electricity and water services according to the highest standards of availability, reliability, efficiency and quality to meet the growing demand in Dubai. DEWA achieves investors’ ambitions by involving them in a unique growth story that is underpinned by the ambition of Dubai and the UAE. We also provide a stimulating environment for investment and support Dubai’s energy transition efforts in line with the Dubai Clean Energy Strategy 2050 and the Dubai Net Zero Emissions Strategy 2050 to provide 100 percent of energy from clean energy sources by 2050. This will promote the comprehensive and sustainable development of Dubai," added Saeed Al Tayer.

Some 9 billion DEWA shares were sold in its IPO, representing 18 percent of its total share capital, and raised a total amount of AED22.3 billion (US$6.1 billion). The Government of Dubai continues to own 82 percent of DEWA’s share capital. The IPO was oversubscribed by 37 times (excluding cornerstone and strategic investors), with strong demand across all tranches.