DEWA: It expects the authority to be listed on the Dubai Financial Market before Ramadan
Saeed Mohammed Al Tayer, the managing director and CEO of the Dubai Electricity and Water Authority (DEWA), stated that it is expected that the authority will be listed on the Dubai Financial Market before next Ramadan.
In a press statement, Al Tayer indicated that the authority occupies an advanced position among the institutions in the emirate and enjoys a strong financial performance, backed by assets amounting to about 200 billion dirhams, and that its technical and financial performance is better than a number of European and American companies, according to periodic studies conducted in partnership with advisory bodies. International, neutral, pointing out that "consultants have been appointed regarding the listing process in the financial market...
It is noteworthy that the Dubai Electricity and Water Authority has assets of power plants that produce 13,200 megawatts, networks of thousands of kilometres, in addition to water plants that produce 490 million gallons of water.
His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance, announced a few days ago that he intends to list the Dubai Electricity and Water Authority on the Dubai Financial Market during the coming months, within the development vision approved by the Development Committee. Financial markets and stock exchanges in the emirate.
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