[ad_1]
Road toll operator announces it will sell 1.5 billion shares
Dubai-based road toll operator Salik announced on Monday that it will sell 1.5 billion shares, or a 20 percent stake, this month to retail investors, institutional investors and employees.
Below is a comprehensive guide for residents and investors on how to buy or subscribe for Salik shares in the UAE:
>>> What does ‘Salik’ mean?
It means “open” or “clear” in Arabic.
>>> When was Salik launched?
The road pricing system was introduced in 2007 to provide seamless connections between the emirate’s main roads.
>>> How many Salik gates are there in Dubai?
Salik currently owns and operates eight toll booths in strategic locations in Dubai. They are located at Al Barsha, Jebel Ali, Al Mamzar North, Al Mazar South, Al Safa, Al Garhoud, DXB Airport Tunnel and Al Maktoum Bridge.
>>> Will Salik add new gates?
Pursuant to Dubai Law No. (12) of 2022, existing toll booths in Dubai may be demolished or modified by decree issued by the Chairman of the Dubai Executive Council. New toll gates can also be added by decree issued by the Chairman of the Dubai Executive Council and following a comprehensive traffic study by the Dubai Roads and Transport Authority in coordination with Salik.
>>> When can people buy stocks?
Individuals and other investors can subscribe for Salik shares between September 13 and September 20.
Also read:
>>> Where to buy or subscribe for shares?
Investors can use Emirates National Bank, Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, Ajman Bank, Dubai Commercial Bank, Dubai Islamic Bank, Emirates Islamic Bank, Abu Dhabi First Bank, Mashreq Bank, MBank and Sharjah Islamic banks subscribe for shares.
>>> What is the cost per share?
The company will announce the price per share ahead of the September 13 IPO launch.
>>> How many road trips have you registered?
A total of 481 million road trips were registered in 2021 and 267 million between January and June 2022.
>>> Why should UAE residents and investors subscribe to Salik shares?
Salik is a very safe and profitable investment as the Dubai government will have a majority stake in the company. On Monday, Salik said it would sell a 20 percent stake, with 80 percent to be controlled by the government.
>>> How much does Salik earn?
Salik reported revenue of AED1.69 billion in 2021 and AED944.9 million in the first half of 2022.
>>> When does the company pay dividends?
The company aims to pay its first dividend in the second half of 2022 by April 2023. 100% of the net profit is expected to be paid after retaining the statutory reserve required by law.
[ad_2]
Source link