Breakingviews - Utility’s share pop turns on Dubai’s IPO pipeline

Interest rates might be rising but some utilities still look red hot. An initial public offering of Dubai Electricity and Water Authority (DEWA) jumped 20% on its first trading day on Tuesday, valuing the company at 149 billion dirhams ($40.6 billion). The deal, triple the original size and priced at the top end of its indicative price range, raised $6.1 billion for its owner, the Dubai government. There’s further room to run, too.

Editing by Una Galani and Oliver TaslicOpinions expressed are those of the author.

They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.Sign up to our investor newsletter to get the latest news and trends in global financial markets.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Breakingviews /  🏆 470. in US

Ireland Latest News, Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Shares of Dubai Utility DEWA Surge in Middle East's Largest IPO Since AramcoShares of DEWA surged more than 20% as the giant utility company began trading on the public market Tuesday.
Read more »

Breakingviews - GoTo IPO debuts in politically smart fashionGoTo’s bosses racked up political points on its Monday debut. Top brass rode to the Jakarta ceremony on own-brand electric mopeds while the $1.1 billion deal, the first under new rules designed to lure startups, boasted a record number of participants.
Read more »

How to Make Smoothie Popsicles | Eat This Not ThatFollow these simple steps to turn your favorite smoothies into light and refreshing smoothie popsicles!
Read more »

Vinfast files for IPO in USBloomberg estimates a $2 billion valuation for Vinfast's IPO.
Read more »

California utility PG&E to pay $55 million over 2 massive wildfiresThe deal means the nation's largest utility will avoid criminal prosecution for the blazes.
Read more »

PG&E to pay $55 million over old power lines sparking two major California wildfiresThe agreement enables the nation's largest utility to escape criminal prosecution for the mammoth blazes.
Read more »