Khalej Times
Summary
Emirates Central Cooling Systems Corporation (Empower) said on Tuesday that subsequent to significant demand and oversubscription from retail investors for its initial public offering, selling shareholders have increased the retail tranche size of the IPO.
The selling shareholders – Dubai Electricity and Water Authority (Dewa) and Emirates Power Investment, an indirectly wholly-owned subsidiary of Dubai Holding — have exercised their right to increase the number of shares offered to retail investors to 300 million from the initial size of 100 million ordinary shares.
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