Dubai’s Salik announces IPO offer price at Dh2 per share

Dubai's Salik announces IPO offer price at Dh2 per share. How to get them through 11 UAE banks?

Salik Company, the exclusive toll gate operator for Dubai, said on Tuesday that it will fund Dh3 billion through an IPO (IPO)

A market capitalization of Dh15 billion is implied by the IPO price of Dh2.0 per share.

Analysts predict that it will draw international institutions in addition to local family offices and organizations.

There will be an offering of 1.5 billion ordinary shares, or 20% of the entire issued share capital of Salik. The Salik Company’s owner, the Dubai government, maintains the right to expand the offering’s size at any point before the subscription period’s completion.

More also said that not providing a price range for the IPO will improve sentiment since investors will know how much they will pay when they submit an application, compared to the market’s expectation of a price of Dh2.5 per share.

Emirates NBD, Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, Ajman Bank, Commercial Bank of Dubai, Dubai Islamic Bank, Emirates Islamic Bank, First Abu Dhabi Bank, Mashreq Bank, MBank, and Sharjah Islamic Bank are the 11 banks via which investors can subscribe to the IPO. Before approving their applications, they would need to get a National Investor Number (NIN), fill out the necessary sections, and state the amounts.

Samra Razi

Digital Marketing Executive

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