Dubai state utility DEWA expects to launch intention to float March 7 -sources | Reuters
Dubai Electricity & Water Authority (DEWA) expects to launch its initial public offering next month, with a listing on the Dubai Financial Market likely to be in April, sources told Reuters.
The state-owned company plans to announce its intention to float on March 7, sources with knowledge of the matter said, declining to be named as the matter is not public.
DEWA declined to comment when contacted by Reuters on Tuesday.
The company plans to offer at least 5% of its shares to investors, said the sources, while one of them said the offering could go up to 10%.
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