Alpha Dhabi to acquire $99.9mn worth DEWA’s share via landmark IPO

By Amirtha P S, Desk Reporter
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UAE’s leading investment firm and a subsidiary of International Holding Company (IHC), Alpha Dhabi Holding (ADH) has invested $99.9 million into the state-owned Dubai Electricity and Water Authority’s (DEWA) landmark initial public offering (IPO).

The transaction will be made through Alpha Dhabi’s subsidiary Alpha Dhabi Partners Holding, making it a cornerstone investor. As part of the deal, the company will acquire shares through DEWA’s IPO.

Alpha Dhabi continues to be a key and strategic contributor to the UAE’s economy and diversification efforts and is committed to driving continued growth for its stakeholders through investments in market leaders that enable the company to deliver superior value to its shareholders. 

Hamad Al Ameri
Hamad Al Ameri
Alpha Dhabi Holding

“DEWA’s landmark IPO is representative of the strides the UAE continues to make to diversify its economy and provides a strong platform for DEWA to build on its growth potential, supported by robust market fundamentals. DEWA’s strong ESG credentials and the high-interest nature of the IPO puts the UAE firmly on the global investment map and we are proud to be a cornerstone investor as part of their IPO.”

Building on the highly diversified investment portfolio of Alpha Dhabi, the cornerstone investment in DEWA follows the significant funding the company has recently made in other market leaders including Aldar Properties and Q Holding. 

With a strong balance sheet, liquidity position and pipeline of potential investments and transactions, Alpha Dhabi is able to be agile in its continued effective deployment of capital as part of its growth strategy while also seizing on opportunities to be part of flagship listings in the UAE that present significant growth potential.

Investing in DEWA, a world-class and leading integrated utility provider with significant ESG credentials as a key enabler of Dubai’s energy transition strategy, supports Alpha Dhabi’s long-term investment strategy.

Related: DEWA reveals IPO price range; Intends to raise up to $2.2bn