The road-toll operator announced that it will sell 1.5 billion shares
Dubai’s road-toll operator Salik on Monday announced that it will sell 1.5 billion shares, or a 20 per cent stake, to retail, institutional investors and employees this month.
Below is a comprehensive guide for residents and investors on how to buy or subscribe to Salik shares in the UAE:
What does ‘Salik’ mean?
It means “open” or “clear” in Arabic.
When was Salik introduced?
The road-toll system was introduced in 2007 to offer seamless connectivity between the emirate’s main roads.
How many gates Salik are there in Dubai?
Salik currently owns and operates eight toll gates at strategic locations across Dubai. They are located at Al Barsha, Jebel Ali, Al Mamzar North, Al Mazar South, Al Safa, Al Garhoud, DXB Airport Tunnel and Al Maktoum Bridge.
Will Salik add new gates?
According to Dubai’s Law No. (12) of 2022, existing toll gates in Dubai can be removed or modified subject to a decree issued by the Chairman of The Executive Council of Dubai. New toll gates can also be added subject to a decree issued by the Chairman of The Executive Council of Dubai, and after the Roads and Transport Authority of Dubai conducts a comprehensive traffic study in coordination with Salik.
When can people buy shares?
Individuals and other investors can subscribe to Salik shares from September 13 to September 20.
Where to buy or subscribe shares?
Investors can subscribe to shares through 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.
How much each share would cost?
The company will announce per share price just ahead of the launch of the IPO on September 13.
How many road trips were registered?
In total, 481 million road trips were registered in 2021 and 267 million during January-June 2022.
Why should UAE residents and investors subscribe to Salik shares?
Salik is a highly safe and profitable investment as the Government of Dubai will own a majority stake in the company. On Monday, Salik said it will sell 20 per cent and an 80 per cent stake will be controlled by the government.
How much is Salik’s income?
Salik reported Dh1.69 billion in revenues in 2021 and Dh944.9 million in the first half of 2022.
When will the company pay a dividend?
The company aims to pay the first dividend for the second half of 2022 by April 2023. It expects to pay 100 per cent of the net profit, after keeping aside the statutory reserves required by the law.
News Source: Khaleej Times