Dubai Taxi Company PJSC sucessfully completes bookbuild for IPO raising AED 1.2 billion with GLOBAL OFFERING 130 TIMES OVERSUBSCRIBED

Dubai Taxi Company PJSC sucessfully completes bookbuild for IPO raising AED 1.2 billion with GLOBAL OFFERING 130 TIMES OVERSUBSCRIBED

- Dubai Taxi Company PJSC sucessfully completes bookbuild for IPO raising AED 1.2 billion with GLOBAL OFFERING 130 TIMES OVERSUBSCRIBED

Dubai Taxi Company PJSC (“DTC” or the “Company”), a leading provider of comprehensive mobility solutions in Dubai, today announces the successful completion of the bookbuild and public subscription process for its initial public offering (the “IPO” or the “Offering”) on the Dubai Financial Market (“DFM”).

The final price for the Offering (the “Final Offer Price”) has been set at AED 1.85, at the top end of the previously announced Offer Price Range, resulting in an Offering size of around AED 1.2 billion (equivalent to approximately US$ 315 million). The Company and the Selling Shareholder confirm the previously announced Offering size consisting of a total of 624,750,000 shares, equivalent to 24.99% of DTC’s total issued share capital.

The Offering saw tremendous demand from international and regional institutional investors and retail investors in the UAE, with total demand for the Offering amounting to over AED 150 billion (equivalent to approximately US$ 41 billion), implying an oversubscription level of 130 times in aggregate. This represents the highest oversubscription level achieved by an IPO on the DFM.

The IPO will result in total gross proceeds of around