T + T – normal size
Dubai Financial Market welcomed today the listing of the shares of Salik (PJSC), the leading company in the field of traffic toll systems at the regional level and the exclusive operator of traffic toll gates in Dubai. Salik is the third public offering and listing on the market since the beginning of this year, as part of the accelerated steps to implement the strategy of developing the financial markets in Dubai by offering stakes in 10 leading groups.
His Excellency Mattar Al Tayer, Chairman of the Board of Directors of Salik, rang the opening bell of trading at the Dubai Financial Market to celebrate the listing in the presence of His Excellency Helal Al Marri, Chairman of the Board of Directors of the Dubai Financial Market, Ibrahim Al Haddad, Chief Executive Officer of Salik, and Hamid Ali, Chief Executive Officer of the Dubai Financial Market and Nasdaq Dubai, along with a number of senior officials from both sides.
The company’s shares began trading under the symbol “SALIK” as a culmination of the successful public offering of its shares, as the strength of investment demand prompted the company to raise the offering ratio to 24.9% of the capital (equivalent to 1,867,500,000 shares at two dirhams per share) instead of 20% as previously planned. The total value of the subscription applications received amounted to 184.2 billion dirhams, which is 49 times more than the value of the shares offered, which reflects the strong demand for Salik shares from various categories of investors.
His Excellency Mattar Al Tayer, Chairman of the Board of Directors of Salik, said: “On behalf of the Board of Directors, I extend my sincere thanks and gratitude to His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council, and His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance, for their continued support.
Al Tayer said: “The listing of Salik on the Dubai Financial Market is tangible evidence of investors’ confidence in the Dubai financial markets and its ambitions for growth, and confirms the success of the vision of His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance, to double The size of the financial market and the attraction of foreign investments. On this occasion, I would like to welcome our new shareholders who joined us to continue this journey that Salik started fifteen years ago, and today it has become one of the most important leading brands that played a pivotal role in managing traffic in Dubai.”
For his part, H.E. Hilal Al Marri, Chairman of the Dubai Financial Market Board of Directors, said: “The listing of this pioneering company supports the ambitious strategy for the development of financial markets in Dubai, consolidates its leadership and enhances its future prospects, given that Dubai has been at the forefront at the regional level in terms of offering stakes in government groups since The year 2006 by listing the shares of the Dubai Financial Market Company, which is the third listing of its kind in the market since last April, and reflects the firm commitment of the Higher Committee for the Development of Financial Markets, led by Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, to implement the development strategy and achieve its objectives as follows: The usual in Dubai in terms of speed and efficiency of completion.”
For his part, Ibrahim Sultan Al-Haddad, CEO of Salik, said: “We are pleased with the completion of the public offering of Salik and welcome the new shareholders to join us in our journey as a company listed on the Dubai Financial Market. The huge turnout for the company’s shares is a true testament to the strength of the company’s shares. Its business model and the solid foundations of the Dubai Financial Markets. Salik will be committed to providing the highest value to its shareholders in the medium and long terms in accordance with the principles of its business and operations.”
In turn, Hamed Ali, CEO of the Dubai Financial Market and Nasdaq Dubai, said: “The listing of Salik shares is a strong qualitative addition to the transportation sector in the financial market and enhances our efforts to diversify investment opportunities and attract companies that reflect the vitality and growth of Dubai’s economy. This listing also represents a step It is an important part of the tireless and successful efforts of the Emirate of Dubai to expand the base of ownership in a group of leading companies, and to provide the opportunity for investors in the Dubai Financial Market to participate in the remarkable growth stories achieved by these companies, taking advantage of the distinguished business environment and the rapid economic growth in the emirate.”
SALIK shares have been included in the transportation sector, with no applicable price limits for stock movements on the first trading day, to be applied on the day following the listing.