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Dubai News Club > Business > Shares in Dubai’s biggest utility surge on market debut
Business

Shares in Dubai’s biggest utility surge on market debut

Press Room
Last updated: 2022/06/20
Press Room
Published: June 20, 2022
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Shares in Dubai’s biggest utility surge on market debut
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Shares in Dubai’s state-owned utility soared on their market debut on Tuesday, after the region’s largest initial public offering since Saudi Aramco kicked off the emirate’s plans to revive capital markets through a series of privatisations.

Dubai Electricity & Water Authority shares surged as high as 23 per cent before ending 16 per cent higher after an IPO that raised $6.1bn.

The monopoly provider of water and electricity to the emirate’s 3.5m residents almost tripled the…

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