Dubai Taxi Company PJSC sucessfully completes bookbuild for IPO raising AED 1.2bln with global offering 130 times oversubscribed

Dubai Taxi Company PJSC sucessfully completes bookbuild for IPO raising AED 1.2bln with global offering 130 times oversubscribed

The IPO saw overwhelming demand of over AED 150 billion (equivalent to approximately US$ 41 billion) from international and regional investors resulting in the IPO being materially oversubscribed by more than 130 times, in aggregate, representing a new record for the DFM

The IPO attracted tremendous interest amongst the global investor community with the Qualified Investor Offering being oversubscribed by close to 135 times

The IPO was extremely well received by the local investor community, with total proceeds raised on the UAE Retail Offering in excess of AED 13 billion and oversubscribed over 94 times (on the upsized tranche size)

This achievement demonstrates the attractiveness of DTC’s investment story, with the IPO supporting the mobility and sustainability vision of Dubai and representing a vote of confidence in Dubai’s buoyant capital markets

Trading on the DFM is due to commence on Thursday 7th December 2023 under the ticker “DTC” with a market capitalization at time of listing of AED 4.6 billion (equivalent to approximately US$ 1.26 billion)

Dubai, UAE: 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