DUBAI: Dubai plans to offer 10% of Emirates Central Cooling Systems Corporation (Empower) in an initial public offering, according to an advertisement in Dubai-based daily Gulf News on Monday.

Empower is the fourth state-linked entity to seek a listing this year in Dubai in a programme aimed at attracting investor interest in the domestic stock exchange.

Dubai Electricity & Water Authority (DEWA) and Emirates Power Investment will offer the 10% stake, which is equivalent to 1 billion shares.

Dubai-based Huspy has Pakistan property buyers on its radar

Subscriptions begin on Oct. 31 and close on Nov. 7, according to the advertisement.

Dubai’s deputy ruler, Sheikh Maktoum Bin Mohammed, announced plans in November for 10 government-linked entities to go public as part of a programme intended to boost stock market activity.