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DEWA Dubai’s biggest IPO is now open for subscription

by WAYA Staff - Mar 27, 2022
DEWA Dubai’s biggest IPO is now open for subscription

The Dubai Electricity and Water Authority (DEWA) IPO is open for subscription, the offer price will be between Dh2.25 to Dh2.48 a share, valuing the utility company at between Dh112 billion to Dh124 billion.

DEWA is looking to raise 8 billion dirhams by offering a share of its shares for public subscription on the Dubai Financial Market, the largest offering since DP World was launched in 2007.

DEWA has offered about 3.25 billion shares of its shares for public subscription, representing 6.5% of the company, the final offer price will be announced on April 6.

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Egypt issues 60 billion Yen in samurai bonds

by WAYA Staff - Mar 27, 2022
Egypt issues 60 billion Yen in samurai bonds

Egypt issued samurai bonds in the Japanese market at 60 billion yen, which accounts to almost $500,000 billion, the Ministry of Finance announced in a statement, on Thursday. Egypt became the first country in the Middle East to issue international...

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Sequence Ventures to invest 150m EGP in 10 tech companies

by WAYA Staff - Mar 24, 2022
Sequence Ventures to invest 150m EGP in 10 tech companies

Sequence Ventures is to invest EGP 150 million in 10 tech companies this year through its Deep-Tech fund. The fund is currently eyeing 22 startups with a goal to deploy EGP 12-17 million in 10 transactions. The fund was launched in October,...

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Sahaby raised $8.6m in a seed funding round

by WAYA Staff - Mar 23, 2022
Sahaby raised $8.6m in a seed funding round

Sahaby, Saudi-based virtual F&B brands startup, raised seed funding at an $8.6M valuation led by Awaed Investment Company for 15% equity in the startup The startup was founded in 2021 and is specialized in creating cloud brands in the field...

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Cypher Capital launches a $100m blockchain-focused fund

by WAYA Staff - Mar 23, 2022
Cypher Capital launches a $100m blockchain-focused fund

Cypher Capital, a private venture capital firm rooted in the UAE and MENA region, launched a $100m seed fund focused on investments in blockchain, crypto and other digital asset projects. “We are very proud and honored to be launching our first...

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SHUAA Capital launches a $250m venture debt fund

by WAYA Staff - Mar 23, 2022
SHUAA Capital launches a $250m venture debt fund

SHUAA Capital, asset management and investment banking platform, launched SHUAA Venture Partners, a $250 million Shari’ah fund, focused on venture debt investments.   “SHUAA Venture Partners will provide alternative capital solutions to high growth companies across the GCC. We aim to...

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Jordan’s Ahli FinTech invests $190k in InvoiceQ

by WAYA Staff - Mar 23, 2022
Jordan’s Ahli FinTech invests $190k in InvoiceQ

AHLI FINTECH, the financial technology and innovation incubator, accelerator, venture-studio arm, and wholly-owned subsidiary of Jordan Ahli Bank, led the pre-seed investment in InvoiceQ with an investment of $190k. InvoiceQ was among a select few startups that had participated in...

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Skillbee raises $3.2m in a Seed funding round

by WAYA Staff - Mar 23, 2022
Skillbee raises $3.2m in a Seed funding round

Skillbee, a super app for migrant workers, raised $3.2m in seed funding led by Good Capital and Vibe Capital, with participation from Access Bridge Ventures, Wamda Capital, and others. Launched in the UAE amidst Covid-19 to help Indian and other...

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Egypt approves a 130bln EGP financial & social relief package

by WAYA Staff - Mar 23, 2022
Egypt approves a 130bln EGP financial & social relief package

Minister of Finance, Mohamed Maait announced that an EGP 130 billion package of financial & social protection measures has been prepared to deal with the repercussions of global economic challenges and mitigate their effects on citizens. An EGP 2.7 billion...

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