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AP National Business

Dubai road toll operator Salik becomes latest firm to IPO

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Published 11:58 PM

By JON GAMBRELL
Associated Press

DUBAI, United Arab Emirates (AP) — Dubai toll gate operator Salik says it will make an initial public offering on the city-state’s stock market, becoming the latest state-linked company to list. Salik plans to offer 1.5 billion shares, or 20% of the company’s worth, in a listing on the Dubai Financial Market. Salik said Monday it would offer a per-share price Sept. 22, a week before the shares would be traded on the bourse. It’s part of a wider plan announced last November by Sheikh Maktoum bin Mohammed Al Maktoum, the son of Dubai’s ruler Sheikh Mohammed bin Rashid Al Maktoum, to list 10 state industries on the stock market.

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