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…
