Utico, a utility company, has announced that it plans to go public this year via an IPO. It will sell 20-30% of its shares at a valuation of $810m.
The company is enticing investors with a Price-to-Earnings Ratio of 11x and incremental dividends of 8-10%.
Utico plans to enhance its offering and introduce new products and services aligned with its sustainability-focused business model. But that doesn’t mean that what it currently offers is subpar – Utico commands more than 20% market share across its existing product categories. Also, it was recently awarded Dubai’s largest desalination project, which is a 35 year-long engagement.