The listing underscores the significance of Dubai’s financial markets development strategy and the efficiency of its markets Image Credit: Dubai Media Office/Twitter

Dubai: The Burj Khalifa, the tallest building in the world, lit up in celebration of the landmark listing of Salik on the Dubai Financial Market (DFM).

Earlier today, the DFM welcomed the listing of shares of Salik Company (PJSC), the leading company in the field of traffic tariff systems at the regional level and the exclusive toll gates operator in Dubai.

This is the third public offering and listing on the DFM in 2022 to date, as part of the accelerated steps to implement Dubai’s strategy to develop financial markets, which includes offering shares in ten leading entities.

The company's shares began trading under the symbol "Salik", culminating in its successful public offering. The strong demand for the issuance prompted the company to raise the offered shares to 1,867,500,000, representing 24.9 per cent of its share capital at a price of Dh2 instead of 20 per cent as initially planned.

The offering was oversubscribed by 49 times as it has attracted orders with a total value of Dh184.2 billion, in a clear indication on the strong demand for Salik’s shares from various investor categories. 

Salik shares are traded within the transportation sector. The DFM applied no price limits on the shares during the first day of trading, as they will be applied from the second day of listing.