London, UK – Tuesday, March 29, 2022: ICM.com, a leading UK-based global multi-regulated financial service provider, today announced the opening of subscriptions for shares in DEWA’s IPO on their ICM Securities platform.
DEWA is the only water and electricity provider in Dubai and the largest utility provider in the MENA region. In Dubai, DEWA currently holds a monopoly over the market. Subscriptions for retail clients will last until the 2nd of April.
The United Arab Emirates is an expanding economy with a rapidly growing population that is expected to double in the next 20 years. The country is a big energy consumer, heavily reliant on desalinated water and air conditioning.
DEWA’s profits increased by around 20% in 2021 to exceed 1 billion dollars annually. The authority has a strong balance sheet with low net debt. The company is an innovative and reliable provider. In January this year, they were the world’s first utility company to integrate nanosatellite technology. They have also vigorously committed to renewable energy and sustainability.
DEWA currently owns a 70% stake in Empower, the world’s largest district cooling services provider. The company also owns several other businesses including Mai Dubai, a manufacturer and distributor of bottled water, Digital DEWA, a digital business solutions company, and Etihad ESCO, a company focused on the development and implementation of energy efﬁcient solutions.
DEWA is offering a biannual dividend policy on their shares.
ICM Securities is a platform that offers access to a diverse range of stocks from the top stock exchanges around the world.
Aside from the major US and European stock exchanges, the platform provides access to a wide range of stock markets from the Arab region. These include the Saudi Stock Exchange/Tadawul, Abu Dhabi Stock Exchange, Dubai Financial Market, and Nasdaq Dubai.
‘At ICM we are excited to be rapidly expanding our opportunities to investors at the best possible conditions. The MENA region is extremely important to us and we are thrilled to be increasing our opportunities in the area.’ Shoaib Abedi, Founder and CEO of ICM.com