Potential investors can subscribe to the shares from September 13 to September 20, at an initial price of AED2, per share. The shares can be subscribed to through Emirates NBD, Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, Mashreq Bank, Sharjah Islamic Bank, First Abu Dhabi Bank, Ajman Bank, Commercial Bank of Dubai, Dubai Islamic Bank, MBank and Emirates Islamic Bank.
The toll operator announced earlier this month, that 1.5 billion shares equivalent to a 20 percent stake will be sold to retail, institutional investors and employees.
Salik’s reported income stood at AED1.69 billion in 2021 and AED944.9 million, in the first half of this year.
The company aims to pay the first dividend for shares purchased in 2022 by April 2023, after consideration of the statutory reserves required by the law, Salik expects to pay 100 percent of the net profit.
New gates are expected to be added to the already existing toll gates at Al Maktoum, Al Garhoud, Al Barsha, Al Mamzar South, Al Mamzar North, Al Safa, Airport Tunnel and Jebal Ali.
According to the emirate’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.
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