Established in 2003, Empower is the world’s largest district cooling services provider by capacity.

It has a diversified client portfolio consisting of Dubai’s key industrial sectors, including Residential, Commercial, Retail, Hospitality, Healthcare, Education and Entertainment.

With a targeted market share of approximately 80% of the district cooling market in Dubai by end of 2022, Empower is the exclusive cooling provider to Dubai’s most iconic and landmark projects, including the Burj Al Arab, Dubai International Financial Centre, Emirates Towers, Museum of the Future and Palm Jumeirah.

Empower currently serves more than 110,000 corporate and individual customers through a network of more than 369 kilometers of insulated pipes and 81 district cooling plants

Dubai’s traditional air-cooling method is transitioning to District Cooling, a more energy efficient, next generation and superior cooling solution.

Empower is an end-to-end District Cooling Service provider covering the entire spectrum of the value chain. It designs, builds, owns, operates and maintains its district cooling plants at its own cost.

Empower uses smart metering technology underpinned by high operational efficiency and the latest technologies, including artificial intelligence to efficiently manage district cooling needs.

Supported by the ‘Dubai Integrated Energy Strategy 2030’, Empower’s operations are rooted in energy transition and is a key enabler in achieving the UAE’s ambition to reach net zero by 2050.

Empower is also a partner of United Nations Environment Program (UNEP) and plays a vital role in UN-lead global initiatives such as ‘Cool Coalition’ and ‘District Energy in Cities’.

Empower is a critical asset for the Emirate, a city where residents and daytime population is expected to increase 5.8 million and 7.8 million respectively by 2040.

Poised for sustained and stable demand and long-term contracted revenue streams, Empower is backed by a solid balance sheet, with a resilient 50% 2021 EBITDA margin, and strong cash flow, which will fund future growth and enable attractive shareholder returns.

Empower benefits from a distinctive operating model that utilizes in-house operational expertise to achieve an industry standard for a low-cost base.

IMPORTANT DATES TO REMEMBER

24th October 2022
Intention to Float Announcement and Publication of the Prospectus
31st October 2022
Retail Subscription Opens and Price Range Announcement
7th November 2022
Retail Subscription
Closes
14th November 2022
Commencement
of Refunds

IPO FINANCING

Maximize your purchasing power as a participating client in EMPOWER IPO with our short term financing facility, designed to boost your returns

Fully Shari’a-compliant | High Finance Amounts | Competitive Profit Rate

SUBSCRIPTION CHANNELS

LIST OF BRANCHES

Branch Name Location Timings Address
Khalifa Ajman Saturday to Thursday
(8:00 AM - 2:00 PM)
Main Ajman Saturday to Thursday
(8:00 AM - 2:00 PM)
Al Ain Al Ain Saturday to Thursday
(8:00 AM - 2:00 PM)
Buhaira Sharjah Saturday to Thursday
(8:00 AM - 2:00 PM)
Sheikh Zayed Road Dubai Saturday to Thursday
(8:00 AM - 2:00 PM)
Dalma Mall AbuDhabi Saturday to Thursday
(8:00 AM - 2:00 PM)
Khalidiya AbuDhabi Saturday to Thursday
(8:00 AM - 2:00 PM)
RAK Ras Al Khaimah Saturday to Thursday
(8:00 AM - 2:00 PM)
Jumeirah Dubai Saturday to Thursday
(8:00 AM - 2:00 PM)

APPLY ONLINE

Ajman Bank account holders will have the option to participate in the EMPOWER IPO via their Online Banking

ONLINE BANKING STEPS:
  • ❋ Visit www.ajmanbank.ae and select Online Banking
  • ❋ Login to the online banking account
  • ❋ Click on IPO and then IPO Purchase
  • ❋ Choose EMPOWER IPO from the drop down list
  • ❋ Enter valid DFM NIN ID
  • ❋ Enter subscription details
  • ❋ Confirmation will show IPO application and reference number
  • ❋ To find out more about the subscription criteria and process, please visit https://www.empower.ae/ipo/ or call 800 IPOS (800 4767).

Apply Now with the below form