Demand for Salik shares exceeded supply 49 times, 184.2 billion dirhams

Salik, the exclusive operator of the traffic toll gate in Dubai, announced on Thursday the successful completion of the drafting of the subscription order book and the public subscription process for its initial public offering on the Dubai Financial Market. The company confirmed the previously announced size of the offering after an increase in the amount of 1,867,500,000 ordinary shares (“Offering Shares”), equivalent to 24.9% of the total issued shares in the capital of “SALIC”, with a share price of 2.00 dirhams per ordinary share, which resulted in a total Revenues in excess of AED 3.7 billion (US$ 1 billion) are payable to the Government of Dubai represented by the Department of Finance after adjusting for any costs related to the offering.