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A record high for “Salik” on the first trading days

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Yesterday, the Dubai Financial Market witnessed the listing of the shares of Salik, which is the third public offering and listing on the market since the beginning of this year. The stock jumped 16% in the first minutes of trading, topping the rise at 2.32 dirhams.

The stock consolidated its gains at the close of trading yesterday, to gain about 1.65 billion dirhams on the first trading day, and the stock closed up 11% at 2.22 dirhams compared to the offering price of 2 dirhams.

According to the data of the Dubai Financial Market, the market capital of “Salik” share rose from 15 billion dirhams upon listing to 16.65 billion dirhams at the end of trading. The stock topped the list of the most active in the Dubai market after attracting liquidity that exceeded 580 million dirhams through trading on more than 252 million shares through the implementation of 7328 transactions.

His Excellency Mattar Al Tayer, Chairman of the Board of Directors of Salik, said that the listing on the Dubai Financial Market is a tangible evidence of investors’ confidence in the Dubai financial markets and its ambitions for growth.

Helal Al Marri, Chairman of the Dubai Financial Market Board of Directors, said that the listing supports the ambitious strategy to develop the financial markets in Dubai, consolidates its leadership and enhances its future prospects, noting that the emirate has been the first at the regional level in terms of offering stakes in government groups since 2006 by listing the shares of the Dubai Market Company. financial.

Ibrahim Sultan Al-Haddad, CEO of Salik, said that the company’s revenue growth sources include several areas in addition to traffic tariff gates, pointing out that the Director of Salik’s Growth Department is in charge of increasing the company’s business and focusing on expanding sectors other than tariff gates. And that there are clear plans to increase and diversify revenues.

He pointed out that “Salik” intends to distribute dividends twice in each fiscal year after the offering in April and October of each year, and expects to distribute 100% of the net profit, after maintaining the required legal reserve, and taking into account the company’s cash flows, explaining that the company’s historical financial statements reflect its strength.

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Listing and trading of “Salik” shares in the Dubai market