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11/2/23, 4:06 PM Dubai Taxi to launch $300 million IPO, report says - Logistics Middle East
Dubai Taxi to launch $300 million IPO, report says

Dubai Taxi Corporation aims to secure $300 million in capital through a planned
initial public offering (IPO).

by Karim Tolba October 31, 2023 01:33 PM GST
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Dubai Taxi

Dubai Taxi Corporation (DTC), a subsidiary of Dubai’s Roads and Transport
Authority (RTA), is reportedly gearing up to launch a major privatisation initiative,

to raise approximately $300 million in capital through a forthcoming share sale
scheduled for November, according to a Bloomberg report citing a confidential
investor presentation.

Expected pay-outs

According to the report, DTC’s upcoming initial public offering (IPO) will see the
company issue a fourth quarter (Q4) dividend of at least $19 million (AED71
million), scheduled for distribution in April 2024.

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