Dubai's DEWA goes public after raising $6B in IPO скачать в хорошем качестве

Dubai's DEWA goes public after raising $6B in IPO

(12 Apr 2022) UAE DEWA STOCKS SOURCE: ASSOCIATED PRESS RESTRICTION SUMMARY: LENGTH: 3:05 ASSOCIATED PRESS   Dubai - 12 April 2022 1. Officials ringing bell to signal Dubai's Water and Electricity Authority, or DEWA, being listed on stock exchange 2. Various of officials shaking hands Abu Dhabi - 12 April 2022 3. SOUNDBITE (English) Mohammed Yaseen, capital markets advisor: ++VIA VIDEO CALL++ "It was imperative for this IPO (initial public offering) to succeed and the success can be measured in many ways, in terms of the - I would say - the first part was the right pricing. Two, the valuation. Three, the yield commitment by the government. And then the way it was handled in terms of the IPO and in terms of allocation. This started as a 6.5% sale of DEWA which ended up about 18% now at the end." Dubai - 12 April 2022 4. Various of officials posing for photos 5. DEWA CEO Saeed al-Tayer walking Abu Dhabi - 12 April 2022 6. SOUNDBITE (English) Mohammed Yaseen, capital markets advisor: ++VIA VIDEO CALL++ "So I think we will see a speeding up of coming IPOs and we have to remember, this is only DFM. ADX (Abu Dhabi Securities Exchange) - and there are companies on ADX coming also - they have their plans. Saudi has its own plans, so it is a big race now for this liquidity. But for now, we see the appetite is very strong."     Dubai - 12 April 2022 7. Various of men looking at stock boards 8. Men talking, with ticker in the background reading (English): "Dubai Financial Market welcomes the listing of DEWA" 9. Ticker reading (English): "DFM welcomes the listing of DEWA" 10. Various of men talking in stock room Abu Dhabi - 12 April 2022 11. SOUNDBITE (English) Mohammed Yaseen, capital markets advisor: ++VIA VIDEO CALL++ "All of this is going, for us, to make DFM a very interesting market to be invested in. It's going to attract the investor base that it probably lost over the last few years due to lack of these successful IPOs and it may encourage other IPOs by other sectors also, maybe semi-government or private to come in, which will also be very good for us." Dubai - 12 April 2022 12. Various of stock room 13. Stock board with DEWA share showing LEADIN: Dubai's Water and Electricity Authority utility has gone public, raising $6 billion in its initial public offering.    STORYLINE: Dubai's Water and Electricity Authority, known as DEWA, began trading for the first time after raising just over $6 billion during its initial public offering, making it the second largest offering ever in the Middle East. While that figure still trails far below the record $29.4 billion raised by Saudi oil giant Aramco, it marks an inflection point for Dubai at a time when high oil prices are buoying the economies and spending power of energy-producing Arab Gulf states. The government-owned utility opened trading on Dubai's stock exchange with a market cap of 124 billion dirhams, or what is roughly $33.7 billion. DEWA priced its shares at 2.48 dirhams each, or what is 68 cents a share. It traded, as expected, higher in its market debut, closing 16% up at 2.87 dirhams a share. "For now, we see the appetite is very strong," said Mohammed Yaseen, a capital markets advisor. The listing comes as DEWA, which is the exclusive electricity and water utility provider of Dubai, positions itself as central to the wider United Arab Emirates' energy transition to net zero by 2050. The emirate, like other parts of the Gulf, also relies nearly entirely on desalinated water plants for potable water. =========================================================== Clients are reminded: Find out more about AP Archive: http://www.aparchive.com/HowWeWork Twitter:   / ap_archive   Facebook:   / aparchives   ​​ Instagram:   / apnews   You can license this story through AP Archive: http://www.aparchive.com/metadata/you...