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  • 20-04-22

    Plans to list Dubai’s EMPOWER in Dubai Financial Market

    (MENAFN) Based on the chief executive of Dubai Electricity and Water Authority (Dewa), the initial public offering of district cooling provider Emirates Central Cooling Systems Corporation based in Dubai, also known as Empower, is going to occur “soon” but not in the present period of three months.

    According to Saeed Al Tayer, who is also the managing director of Dewa, statement to Al Arabiya TV on Tuesday, "it [Empower's IPO] will be announced in due time, it won’t be in the current quarter of the year, probably at the end of the year."

    "We will announce the date at the right time," he stated, without giving details. Schemes to list the firm were first declared in December the previous year as part of Dubai’s scheme to enhance its stock exchange and draw more capital.

    MENAFN20042022000045013568ID1104056156

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