Dubai’s Salik to maintain long-term access to capital markets: Mattar Al Tayer

Dubai’s Salik to maintain long-term access to capital markets: Mattar Al Tayer

The company currently manages eight toll gates, in addition to any new ones in the future

By WAM Published: Tue 6 Sep 2022, 4:54 PM

Mattar Mohammed Al Tayer, Chairman of the Board of Directors of Salik, said the company decided to list its shares in the Dubai Financial Market to ensure its long-term access to capital markets and allow investors to invest in premium assets.

In an interview with the Emirates News Agency (WAM), Al Tayer said that offering Salik shares in the Dubai Financial Market is part of the privatisation programme launched by the emirate, as well as its plan to double the value of Dubai's financial markets and stock exchanges to Dh3 trillion, in line with the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai.

He then highlighted three major reasons for Salik's investment attractiveness.

Firstly, the company is the exclusive operator of Dubai's automatic road toll collection system which currently manages eight gates, in addition to any new gates in the emirate through a concession agreement lasting 49 years.

The second reason is the company's business model, which is characterised by its low capital spending and cash transfer margins, which is the