Today (September 13), the road toll company Salik in Dubai began accepting applications for its initial public offering, with each share costing Dh2.
A total of 1.5 billion ordinary shares, or 20% of Salik’s outstanding share capital, are being offered. Retail investors can enroll until September 20. Qualified investors can subscribe until September 21.
An extensive tutorial on how to purchase or subscribe for Salik shares in the UAE is provided below for locals and investors:
Why should investors and UAE citizens purchase Salik shares?
- Salik is a very safe and lucrative investment because the Dubai government will own the majority of the business. Salik has previously stated that it would sell 20% of its stock and that the government would retain the remaining 80%.
Where can people subscribe to or purchase shares?
- Ajman Bank, Commercial Bank of Dubai, Dubai Islamic Bank, Emirates Islamic Bank, First Abu Dhabi Bank, Mashreq Bank, MBank, and Sharjah Islamic Bank are among the financial institutions that allow investors to subscribe for shares.
What would the price per share be?
- Each stake is being offered by the firm for Dh2.
When will the business distribute dividends?
- By April 2023, the company hopes to distribute the first dividend for the second half of 2022. After deducting the statutory reserves needed by law, it anticipates paying 100% of net earnings.
How many gates Salik are there in Dubai?
- At now, Salik owns and runs eight toll gates in Dubai, all of which are located in prime areas. Al Barsha, Jebel Ali, Al Mamzar North, Al Mazar South, Al Safa, Al Garhoud, DXB Airport Tunnel, and Al Maktoum Bridge are the places where they can be found.
Will Salik add new gates?
- Existing toll gates in Dubai may be altered or removed in accordance with a decree made by the Chairman of The Executive Council of Dubai, per Dubai Law No. (12) of 2022. Additionally, new toll gates may be erected with the approval of the Chairman of the Dubai Executive Council and following the completion of an extensive traffic study by the Dubai Roads and Transport Authority in collaboration with Salik.
How much is Salik’s income?
- Revenues for Salik were Dh944.9 million in the first half of 2022 and Dh1.69 billion in 2021.
How many recorded road trips were there?
- Road travels totaled 481 million in 2021 and 267 million from January to June of 2022.