Salik Company PJSC successfully completes bookbuild for IPO raising over $1bn

Salik Company PJSC successfully completes bookbuild for IPO raising over $1bn

- Overwhelming demand with IPO oversubscribed more than 49x across all tranches highlighting strong confidence in Salik’s story

- Offering attracted tremendous interest amongst the international and local investor community with the Qualified Investor Offering oversubscribed by 52x (excluding cornerstone investors)

- Exceptional retail demand which saw unparalleled oversubscription levels at 119x (First and Third Tranches combined)

- Trading on DFM due to commence on 29 September 2022 under the symbol “SALIK” with a market capitalization at listing of USD4.1bn

Dubai, UAE: Salik Company PJSC (“Salik” or the “Company”), Dubai’s exclusive toll gate operator, today announces the successful completion of the bookbuild and public subscription process for its initial public offering (“IPO” or the “Offering”) on the Dubai Financial Market (“DFM”).

The Company confirms the previously announced upsized offering size of 1,867,500,000 ordinary shares (“Offer Shares”), equivalent to 24.9% of total issued share capital, along with the offer price of AED 2.00 per ordinary share. This results in total gross IPO proceeds of over AED3.7bn ($1.0bn1) to be paid to the Government of Dubai represented by the Department of Finance (the “Selling Shareholder”) after adjusting for any expenses related to the Offering.

The Offering saw significant interest with total gross demand for the IPO in excess