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FinancialNews
05-09-22
Dubai's government plans to sell 20 percent of Salik to extent its capital markets
(MENAFN) Dubai's administration prepares to trade a 20 percent share in the emirate's toll operator, Salik, via an early public offering as it seeks to increase the extent of its capital markets.
The government is going to sell 1.5 billion stakes in Salik and reserve the right to improve the size of the offering, it stated in an announcement in Gulf News on Monday.
The offer price is going to be confirmed in advance of the beginning of the proposing, which starts on the 13th of September and ends on the 20th for the first and third amount of subscribers. The second tranche ends onone day after on the 21st.
The government is going to maintain 80 percent in the firm after the proposing.
Dubai declared strategies in November to register 10 state-owned firms to grow the size of its economic market to about Dh3 trillion (USD817 billion), in addition to set up a Dh2bn (USD544K) market maker fund to boost the listing of more private firms from sectors including energy, logistics as well as retail.
MENAFN05092022000045014228ID1104810430
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