The decision to increase the size of the offering came after strong investor demand and subscription requests exceeded the volume of shares offered across all segments
Increase the shares available for subscription 2,000,000,000 Ordinary fee, so that the offer size is now 20.0% of the company’s capital (compared to 15.0%)
The share of the Qualified Investors tranche (referred to as the “second tranche” in the UAE prospectus) will increase from 1,400,000,000 normal arrow a 1,900,000,000
The individual investor segment will remain unchanged
The subscription period for the offer of individual investors in the UAE, as well as for the offer of qualified investors, remains the same It will close respectively on 7 and 8 November
Dubai, United Arab Emirates: Emirates Central Cooling Systems Corporation (“Empower” or the “Company”) announced: Today is, after obtaining approval from the Securities and Commodities Authority, Dubai Electricity and Water Authority PJSC (“DEWA”) and Emirates Power Investment LLC (“Emirates Power”), wholly and indirectly owned by Dubai Holding (“Emirates Power”). “Dubai Holding”) (jointly referred to as the “Selling Shareholders”); exercised the right to increase the number of shares available for subscription as part of its initial public offer (so-called “initial public offer” or offer) from 1,500,000,000 to 2,000,000,000 ordinary shares.
This translates into an increase in the size of the offering from 15% to 20.0% of the total capital of Empower, with DEWA and Emirates Power maintaining respectively 56.0% and 24.0% of the current capital of the company. company, after the offer.
Empower was also approved by the Securities and Commodities Authority to increase the size of the offer allocated to the Qualifying Investors tranche (referred to as the “second tranche” in the UAE prospectus) from 14% (representing 1,400,000,000 shares) to 19 % (representing 1,900,000,000 shares). The retail investor segment will also remain unchanged at 100,000,000 common stock.
The size of the new offering was determined by the selling shareholders following the announcement on November 1, 2022 to increase the size of the offering to 15.0%. The Selling Shareholders reserve the right to change the offering tranche size and offering size at any time prior to the end of the subscription period at their discretion, subject to the approval of the Securities and Commodities Authority.
The subscription period remains the same and is expected to start from 31 October to 7 November for retail investors in the UAE and until 8 November for qualified investors.
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– it’s over –
