Dubai to offer 10% of Empower in fourth state-linked IPO this year -Gulf News

Dubai plans to offer 10% of Emirates Central Cooling Systems Corporation (Empower) in an initial public offering, according to an advertisement in Dubai-based daily Gulf News on Monday.

Empower is the fourth state-linked entity to seek a listing this year in Dubai, in a programme aimed at attracting investor interest in the domestic stock exchange.

Dubai Electricity & Water Authority (DEWA) and Emirates Power Investment will offer the 10% stake, which is equivalent to 1 billion shares.

Subscriptions begin on Oct. 31 and close on Nov. 7, according to the advertisement, which is a regulatory requirement.

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