Dubai plans to raise $1bn from IPO of Salik road toll system By Pramod Kumar August 9, 2022 Creative Commons In August, Bloomberg reported that Dubai was planning to raise about $1 billion by selling shares in the Salik road-toll collection system as early as September Dubai is planning to raise about $1 billion by selling shares in the city’s Salik road-toll collection system as early as next month, Bloomberg reported, citing people familiar with the matter. Salik has taken out a $1.1 billion loan from Dubai’s largest bank, Emirates NBD, to pay a special dividend to the government ahead of the stake sale. The automated toll system is continuing to target September for its share sale, despite a recent dip in investor appetite, the news agency reported. Although the percentage of of the stake to be offloaded is uncertain, the government has previously said it will retain a minimum 60 percent stake. Salik is one of 10 proposed privatisations in Dubai as part of the city’s plans to bolster its capital markets.
