Page 50 - SALIK PR REPORT FEBRUARY 2024

2/9/24, 12:12 PM Dubai-Based Salik's Full-Year Profit Plunges 17% To $297M Amid Higher Cost
The company’s operating structure and cost profile changed from July 1, 2022, as it operates as a
separate legal entity under a 49-year concession agreement with the Roads and Transport

Authority (RTA), Salik said in a regulatory filing Thursday.

Last month, Salik said its plans to install two new toll gates in Dubai, bringing its total number of
toll gates to 10, as part of a growth plan, which is aimed at managing traffic flow and reduce

congestion by rerouting some traffic to alternative routes.

Market cap

Dubai-listed Salik shares edged up 0.3% to $0.93 (AED 3.4) at 11:39 am GST on Thursday,

bringing the market capitalization of the toll operator to $6.9 billion (AED 25.5 billon).

IPO

In September 2022, the Dubai government sold its 24.9% stake or 1.87 billion shares in Salik at

$0.54 (AED 2) each as part of a broader plan to list 10 state-owned companies.

The $1 billion (AED 3.73 billion) share offering was oversubscribed by 49 times, with total

orders touching $50.2 billion (AED 184.2 billion).

https://www.forbesmiddleeast.com/industry/transport/dubai-road-toll-operator-saliks-full-year-proft-falls-17-to-%24297m-amid-higher-cost 2/2