Dubai Taxi IPO: 25% stake to list on Dubai Financial Market

Dubai Taxi IPO: 25% stake to list on Dubai Financial Market

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Dubai Taxi Company announced its intention – on November 13 – to proceed with an initial public offering (IPO) and list its ordinary shares to trade on the Dubai Financial Market (DFM).

On Sunday, Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE issued Law No (21) of 2023 on Sunday, recognising it as a public joint-stock company.

Read Dubai Taxi Company: Sheikh Mohammed issues law; IPO on the cards

Abdul Muhsen Ibrahim Kalbat, chairman of the board of Directors, Dubai Taxi Company said: “Benefitting from Dubai’s exceptional infrastructure and an ambition to double the size of its economy by 2033, supported by the Dubai Urban Master Plan 2040 which maps out a comprehensive plan for sustainable urban development in the emirate, Dubai Taxi Company remains key to the growth, mobility, and sustainability vision of Dubai, playing an integral role in moving and connecting the millions who call Dubai home and the rapidly increasing number of tourists who visit the UAE every year.

“Through this offering, Dubai Taxi Company is proud to support the continuation of the privatisation programme pursued by Dubai, providing a further opportunity for foreign investment and fostering a culture of world-leading innovation