Today, the date for announcing the allotment of the subscription shares of Salik.
Salik, the exclusive operator of the traffic toll gate in Dubai, has set today, Tuesday, September 27, 2022, as the date for announcing the allotment of its shares, as notifications of allotment will be sent to the participants in the subscription.
According to the prospectus, each subscriber in the first and second tranches will be allocated a minimum of 1,000 shares.
It is noteworthy that on September 13, Salik offered 1.5 billion shares for public subscription, representing 20% of the company's capital, after which the volume of the offering was increased to 1.9 billion shares, equivalent to 24.9% of its total capital.
The company increased the number of shares available to the individual and employee tranches as a whole from 120 million to 145.7 million ordinary shares, representing 7.8% of the offer size, and for the second tranche (for professional investors) from 1380 million shares to 1721.8 million ordinary shares, equivalent to 92.2% of the offering size.
The offering price was set at 2 dirhams per share, bringing the total revenue to more than 3.7 billion dirhams ($ 1 billion), making the market value of the company at listing 15 billion dirhams ($ 4.1 billion).
The total subscription requests for the offered shares exceeded more than 184.2 billion dirhams (50.2 billion dollars), so that the subscription was covered by about 49 times for all segments combined.
It is expected that Salik shares will start trading on the Dubai Financial Market on Thursday, September 29, under the symbol “Salik” and the International Securities Identification Number (AEE01110522).
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