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11/2/23, 4:02 PM Dubai taxi operator to raise $300m in IPO next month | AGBI
Dubai taxi operator to raise $300m in
IPO next month
By Pramod Kumar October 31, 2023
Wam
Dubai Taxi intends to distribute a dividend of AED71 million in April for the fourth quarter of 2023
Dubai Taxi Corporation, a unit of the Road and Transport Authority (RTA), aims to raise nearly
AED1.10 billion ($300 million) from a share sale in November, Bloomberg reports.
The taxi operator intends to distribute a dividend of AED71 million in April for the fourth quarter of
2023, the news agency reported, citing an investor.
Dubai Taxi will pay almost 85 percent of its annual net profit in two dividend payments from 2024.
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