It was announced on Monday that Salik, Dubai’s road-toll operator, will be offering its 1.5 billion shares, or a 20% interest, to retail, institutional, and employee investors from September 13 to September 20 for retail and September 21 for qualified investors.
Salik was introduced back in 2007 that aims to connect Dubai’s main roads for a faster and seamless journey. As of the moment, Salik operates eight toll gates across Dubai. They are located at Al Barsha, Jebel Alo, Al Mamzar North, Al Mamzar South, Al Safa, Al Garhoud, DXB Airport Tunnel, and Al Maktoum Bridge.
In terms of buying shares, individuals and other investors can subscribe to Salik shares from September 13 to September 20. And they can buy or subscribe to shares through different banks like:
- 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
- Sharjah Islamic Bank
Currently, the company does not have any announcement yet regarding the share price. But, it will be given ahead of the launch of the IPO on September 13.
UAE residents and investors should subscribe to Salik because it is a highly safe and profitable investment, as the Government of Dubai will own a majority stake in the company. Twenty percent of it will be for investors, and the government will control 80 percent.
It is reported by the company that there is an AED1.69 billion revenue in 2021 and AED944.9 million in the first half of 2022.
The company has decided to pay the first dividend for the second half of 2022 by April 2023. It expects to pay 100 percent of the net profit after keeping aside the statutory reserves required by the law.
