Dubai is considering to increase the size of toll operator Salik’s intial public offering due to high demand.
Retail subscription to the IPO is ongoing, with the Dubai government selling 20 percent shares. Now, plans to increase it to 25 percent – or as many as 1.875 billion shares – are underway, unnamed sources told Bloomberg.
Investors on Tuesday snapped up all of the shares on offer within hours of the IPO opening, the report said, so advisers recommended selling more.
If the government decides to up the offering, it will not be the first Dubai IPO to do so. In April, DEWA almost tripled the stake it sold from 6.5 percent to 198 percent. It raised around $6.1 billion.
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