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Dubai’s road-toll operator Salik officially opened its IPO subscription today (September 13), with each share being offered at Dh2.
A total of 1.5 billion ordinary shares — equivalent to 20 per cent of Salik’s total issued share capital — are on offer. Retail investors can subscribe until September 20, and until September 21 for qualified investors.
Here's a comprehensive guide for residents and investors on how to buy or subscribe to Salik shares in the UAE:
— 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. Salik had earlier said it will sell 20 per cent and an 80 per cent stake will be controlled by the government.
— Where can people 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 would each share cost?
The company is offering each share at Dh2.
— 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.
— 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.
— 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.
— How many road trips were registered?
In total, 481 million road trips were registered in 2021 and 267 million during January-June 2022.
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— When can people buy shares?
Individuals and other investors can subscribe to Salik shares from September 13 to September 20.
— 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.
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