Investors keen on the listing of the Dubai Electricity & Water Authority bought up the shares by the bucketful on its first day of trading Tuesday. Dewa, as it is known, had already increased the size of its share offering twice before settling on $6.1bn for 18 per cent of the equity. That made it the largest initial public offering in the Middle East since Saudi Aramco in 2019. Its shares jumped 15 per cent on their debut valuing Dewa at almost $39bn.
Dubai has developed a reputation…
