Dubai plans to raise $1bn from IPO of Salik road toll system By Pramod Kumar August 9, 2022, 5:25 AM Creative Commons In August, Bloomberg reported that Dubai was planning to raise about $1 billion by selling shares in the Salik road-toll collection system as early as September Dubai is planning to raise about $1 billion by selling shares in the city’s Salik road-toll collection system as early as next month, Bloomberg reported, citing people familiar with the matter. Salik has taken out a $1.1 billion loan from Dubai’s largest bank, Emirates NBD, to pay a special dividend to the government ahead of the stake sale. The automated toll system is continuing to target September for its share sale, despite a recent dip in investor appetite, the news agency reported. Although the percentage of of the stake to be offloaded is uncertain, the government has previously said it will retain a minimum 60 percent stake. Salik is one of 10 proposed privatisations in Dubai as part of the city’s plans to bolster its capital markets. Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later
