The cooling firm reported a net profit of Dhs685m during the period under review and paid a cash dividend of Dhs425m for the first half of 2023
Empower has saved 412 million imperial gallons of fresh water in 2022 by using recycled water in its operations
The total capacity of the plants is equivalent to 11 times the consumption of the world’s tallest tower, the Burj Khalifa
The upgrade will contribute to achieving savings in energy, increasing efficiency and significantly reducing carbon emissions
The company’s full-year net profit jumped by 7 per cent year-on-year to Dhs1bn in 2022 while its revenues reached Dhs2.8bn
The company will provide its services with a cooling capacity of 63,000 refrigeration tonnes
The company proposed a dividend amount of Dhs425m for the second half of 2022
Empower is Dubai’s fourth privatisation in recent months
The company’s market capitalisation at listing is expected to be between $3.56bn and $3.62bn
Empower will start taking investor orders for the IPO from Monday, with final pricing scheduled for November 9
The firm has said it expects the minimum dividend to remain at $231m annually for two years after the IPO
Among the buildings that are serviced within Empower’s portfolio, the residential sector tops the list of the company’s clients with 64 per cent
The government said last month it wants to sell shares in 10 companies, and it has been encouraging private and family-owned businesses to follow suit
The contracts were awarded primarily for the development of company’s district cooling infrastructure in Dubai