© Reuters. A Salik toll collection gate on the Al Jarhoud bridge in Dubai. Image from the Reuters archive.
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DUBAI (Reuters) – Dubai street toll organization Salik mentioned Monday it will market 20% of the business by way of an first public giving (IPO).
Salk stated in the doc that the enterprise, reworked into a personal joint stock enterprise in June, will market 1.5 billion shares to the community with ideas to go community on September 29.
Dubai’s deputy ruler, Sheikh Maktoum bin Mohammed, announced in November his intention to completely transform Salik, then a division of the Roadways and Transportation Authority, into a joint stock business. The listing of him and nine other govt-relevant businesses on the inventory exchange aimed to promote stock market exercise.
(Prepared by Ahmed Sobhi for the Arabic publication)
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