The IPO of Salik Traffic Tariff Company (UAE) will begin on Tuesday (September 13th), which aims to sell 1.5 billion shares, with a nominal value of AED 0.01 representing 20% of its shares, in preparation for listing on the Dubai Financial Market.
According to a statement carried by the Emirates News Agency, on Monday, the offering price of the share will be determined during and after the process of building the subscription order book.
The retail IPO will end on September 20, and the investor subscription on September 21. It is expected to be listed on the stock exchange at the end of the month.
The listing will be added to several IPOs taking place in 2022 following DEWA, TECOM Group and Union Coop as part of a plan by the UAE to list state companies on the stock exchange.
According to the statement, the Government of Dubai reserves the right to amend the size of the offering at any time before the end of the subscription period, as per the law.
