Dubai Salik IPO: How to get Dh2 shares through 11 UAE banks; a step-by-step guide

Dubai Salik IPO: How to get Dh2 shares through 11 UAE banks; a step-by-step guide

Buyers will need a National Investor Number, fill out the relevant fields and specify the amounts, before authorising their applications

Published: Wed 14 Sep 2022, 11:36 AM Last updated: Wed 14 Sep 2022, 11:48 AM

Dubai’s Salik is among the most recognisable brands among UAE residents, with many passing under the toll gates multiple times a day. When the road toll operator announced that it would launch its initial public offering (IPO), the news was keenly followed by retail and institutional investors and UAE residents.

Salik officially opened its IPO subscription on September 13, with shares priced at Dh2. It will sell 1.5 billion shares — or 20 per cent of its equity capital.

Investors can subscribe to the IPO through 11 banks: Emirates NBD, Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, Ajman Bank, Commercial Bank of Dubai, Dubai Islamic Bank, Emirates Islamic Bank, First Abu Dhabi Bank, Mashreq Bank, MBank and Sharjah Islamic Bank. They would need a National Investor Number (NIN), fill out the relevant fields and specify the amounts, before authorising their applications.

Here is a detailed guide on how to invest through each of the banks:

1. Emirates NBD

It is the lead receiving bank.

> Account holders

They can subscribe through the bank’s