Dubai has kicked off plans to boost its capital markets by selling stakes in 10 state-owned businesses with the IPO of its monopoly electricity and water provider.
In its intention to float statement on Tuesday, the Dubai Electricity and Water Authority said it would offer 3.25bn shares, or 6.5 per cent of its share capital, in what could be one of the largest listings ever in the emirate. Officials and bankers have previously said the listing could value Dewa at around 100bn dirhams…
