Emirates Central Cooling Systems Corporation PJSC has announced its intention to float 10% of the company on the Dubai Financial Market through an IPO. Known under its trading name of Empower, it is the world's biggest district cooling services provider. Established in 2003, it is is backed by Dubai Electricity and Water Authority (DEWA), which owns 70% of the shares, with the remaining 30% owned by Emirates Power Investment LLC (Emirates Power - itself an indirect wholly owned subsidiary of Dubai Holding LLC). In its IPO announcement of 24 October, Empower said its intention was to ...
To continue reading this article...
Join International Investment
Signup and gain exclusive members-only insights
Join International Investment today
Unlock members-only benefits:
- Unlimited access to real-time news, industry insights, video features and market intelligence
- Stay ahead of the curve with spotlights on international financial centres, regional trends international advice and global industry leaders
- Receive breaking news stories straight to your inbox in the daily newsletters
- Hear the latest cross jurisdictional developments in wealth planning, tax, regulation, investing, retirement and protection
- Members-only access to the Editor’s weekly news roundup newsletter
- Members-only access to analysis via our exclusive industry polls
- Be the first to hear about our events and awards programmes
