Page 23 - SALIK PR REPORT OCTOBER 2023

11/2/23, 4:06 PM Dubai Taxi to launch $300 million IPO, report says - Logistics Middle East
Furthermore, DTC has reportedly committed to disbursing a minimum of 85% of
its annual net profits through two dividend payments, starting in the 2024 fiscal
year (FY24).

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The RTA is reportedly collaborating with Bank of America Corp., Citigroup Inc., and
Emirates NBD Capital to facilitate the offering, which will be listed on the Dubai
stock exchange, according to Bloomberg.

The strategic move aligns with RTA’s broader strategy to unlock further value from
its assets, building on the successful $1 billion IPO of Salik, the emirate’s exclusive
road-toll operator, in 2022.

According to market reports, an IPO for Dubai Parking could also be on the
horizon, as part of the UAE’s privatisation agenda.

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