Increasing the volume of shares available for subscription in the offering of “Salik” to 24.9%

Salik obtained the approval of the Securities Exchange to increase the size of the tranche offering.

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Salik announced yesterday that, after obtaining the approval of the Securities and Commodities Authority in the UAE and the Government of Dubai, represented by the Financial Department, it has exercised its right to increase the number of shares available for subscription in its initial public offering from 1.5 billion ordinary shares to 1.867 billion. And 500,000 ordinary shares, which means that the percentage of shares available for trading after listing will rise from 20% to 24.9% of Salik's capital, with the Dubai government retaining ownership of 75.1% of its capital.

Salik also obtained the approval of the Securities and Commodities Authority to increase the size of the offering of the relevant tranches as follows: The size of the first and third tranches “in total” will be increased from 120 million to 145 million and 725 thousand ordinary shares (or 7.8% of the offer size), while Salik will be Increasing the size of the second tranche for “qualified investors” from one billion and 380 million to one billion and 721 million and 775 thousand ordinary shares (or about 92.2% of the offering size).

The size of the new offering was determined by the selling shareholder, following Salik’s decision to set the offering price at two dirhams per ordinary share on September 13, 2022, which provides investors with a rewarding offer, and on the other hand confirms Salik’s keenness to support the performance of the stock’s trading in the market after listing. as a priority for her.

The subscription period for the initial public offering of Salik remains the same, as it ends on September 20, 2022 for retail investors in the UAE, and on September 21, 2022 for qualified investors.

It is expected that Salik shares will start trading on the Dubai Financial Market on September 29, 2022, under the symbol “SALIK” and the International Securities Identification Number (AEE01110S22);

The opening market capitalization of the company is also expected to reach 15 billion dirhams.

Investors who participated in the retail tranche in the UAE will be notified of the shares allocated to them via an SMS on September 26, 2022.

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