Page 47 - SALIK PR REPORT OCTOBER 2023

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