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Dubai’s Roads & Transport Authority is working with Bank of
America Corp., Citigroup Inc., and Emirates NBD Capital on
the offering that will list in Dubai, Bloomberg News has
previously reported.
A representative for the RTA didn’t respond to a request for
comment.
The RTA is monetizing more of its assets after its owner, the
Dubai government, raised $1 billion from an IPO of the city’s
road-toll operator, Salik Co., in 2022. An IPO of Dubai Parking
is expected to follow the taxi business listing.
The Middle East has been in the midst of an IPO boom since
late 2021, buoyed by high oil prices and government
privatization drives. But activity in Dubai, in particular, has
slowed from a blockbuster 2022 after a decline in some
regional stock markets in the first half.
https://english.alarabiya.net/business/aviation-and-transport/2023/10/30/Dubai-s-RTA-seeks-about-
300-mln-from-taxi-IPO-Report