Page 52 - SALIK PR REPORT FEBRUARY 2024

2/9/24, 12:12 PM UAE: Salik Shareholders Reap Benefits, Share Concerns | MENAFN.COM
“To be honest, I am very happy about the new toll gates,” Dean said.“I don't use those routes
so it doesn't really add to my spending, but I think it will definitely drive the share prices
higher. I think it is one of the best investments I had made.”

Listening to his daughter
For A. Iqbal, the decision to buy the IPO happened by chance.“I was skeptical but my teen

daughter reasoned that it would be a good investment,” he said.“We had a discussion and
she said that with thousands of cars using Salik every day, the chances of the share values
going down were very limited. I thought she had a fair point and decided to invest.”

Salik officially opened its IPO subscription in September 2022 and raked in over Dh184 billion

- being oversubscribed 49 times.

He put in an initial bid of Dh5,000 but had to settle for Dh2,000 worth of shares due to the
oversubscription.“I knew that the IPO would garner interest as Salik is something so
commonly used,” he said.“However, I didn't think it would be as popular as it became.”

As someone who uses Sheikh Zayed Road every day for his commute to work, Iqbal sees the

new toll gates as a double-edged sword.“I am assuming the shares will go up but so will my
expenditure,” he said.“I will have to pay roughly Dh24 per day while going to and coming from
office.”

Will it ease traffic? Navya Muraly. - Supplied photo
Youngster Navya Muraly also bought the Salik shares when the IPO was announced but she

is not convinced the new toll gates will ease traffic.

“I believe that months from now, because of the new toll gates, we can anticipate a rise in taxi
fares and we have to cope with additional expenses that might arise,” she said.“This is not
ideal considering companies are not even increasing salaries.”

ALSO READ:

New toll gates in Dubai: Salik shares gain over 35% in 3 months, hit all-time high

Dubai equities continue upward march in January

New Salik gates in Dubai: Residents compare public transport, car ownership costs
However, she admitted that she hoped to reap the benefits of her shares.“The prices in the

market have been so promising so far. With two more gates being introduced, I am hoping we
get higher returns in the form of dividends. However, as we all know the market is always
fluctuating, this factor can always change but since this is a semi-government owned

company. I don't see it falling beyond a certain price.”

MENAFN08022024000049011007ID1107831381

https://menafn.com/1107831381/UAE-Salik-Shareholders-Reap-Benefits-Share-Concerns 2/2