Alpha Dhabi to invest AED 367 million in DEWA’s landmark IPO

ABU DHABI, 24th March, 2022 (WAM) -- Alpha Dhabi Holding PJSC, an Abu Dhabi-based conglomerate and subsidiary of the International Holding Company (IHC), has made an AED 367 million investment into DEWA’s landmark initial public offering (IPO) through its subsidiary Alpha Dhabi Partners Holding LLC, as a cornerstone investor.

As part of the transaction, Alpha Dhabi Partners Holding LLC 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 continuous growth for its stakeholders through investments in market leaders that enable the Company to deliver superior value to its shareholders. Investing in DEWA, a world-class and leading integrated utilities provider with significant ESG credentials as a key enabler of Dubai’s energy transition strategy, supports Alpha Dhabi’s long-term investment strategy.

Building on its highly diversified investment portfolio, the cornerstone investment in DEWA follows the significant investments 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.

Hamad Al Ameri, CEO of Alpha Dhabi Holding, said, "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."