Markets Dubai road-toll operator Salik to sell 20% of its shares via IPO By Reuters September 5, 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 road-toll operator Salik is selling 20 percent of the company via an initial public offering, the company said in its intention to float document on Monday. Salik, which was converted into a private joint stock company in June, is selling 1.5 billion shares to the public with a listing planned around Sept. 29, it said in the document. Dubai’s deputy ruler, Sheikh Maktoum Bin Mohammed, announced plans in November to turn Salik, then a division of the Roads and Transport Authority (RTA), into a public company. Listing it and nine other government-linked entities was intended to boost stock market activity. 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.
