Dubai May List District Cooling Firm Empower in Third Quarter - Bloomberg
Dubai will probably sell shares in Emirates Central Cooling Systems Corp. in the third quarter, according to the head of its controlling shareholder.
Empower, as the district cooling provider is known, is 70% owned by the city’s main utility, Dubai Electricity & Water Authority. DEWA’s chief executive officer, Saeed Mohammed Al Tayer, spoke about the plans to list Empower in an interview on Tuesday.
DEWA earlier announced its own plans for an initial public offering.
The planned IPOs are part of Dubai’s efforts to revive trading volumes and catch up with the exchanges in Abu Dhabi and Riyadh. The emirate is also encouraging private and family-owned businesses to sell shares. Dubai’s stock market has gained about 4% this year.
No comments:
Post a Comment