It topped the list of the most active in the Dubai market, accounting for 66.8% of trading

«Salik» rises 11%, with gains of 1.65 billion dirhams on the first trading day

Rain Al Tayer during the ringing of the trading bell.

From the source

Salik's share consolidated its gains at the close of trading yesterday, to gain about 1.65 billion dirhams, on the first trading day on the Dubai Financial Market.

According to the data of the Dubai Financial Market, the market capital of the company "Salik" rose from 15 billion dirhams upon listing to 16.65 billion dirhams at the end of trading yesterday.

The "Salik" share closed yesterday, up by 11%, to reach the level of 2.22 dirhams, compared to the offering price of two dirhams.

The stock topped the list of the most active in the Dubai market, after attracting liquidity that exceeded 580 million dirhams, equivalent to 66.8% of the total trading value in the market, distributed over 252 million shares, representing 67.8% of the total trading volume.

Yesterday, the Dubai Financial Market welcomed the listing of the shares of Salik, the exclusive operator of traffic toll gates in Dubai, as part of the accelerated steps to implement the strategy to develop financial markets in Dubai, by offering stakes in 10 leading groups.

Salik is the third public offering and listing in the market since the beginning of this year, as part of the accelerated steps to implement the strategy to develop financial markets in Dubai, by offering stakes in 10 leading groups.

Mattar Al Tayer, Chairman of the Board of Directors of Salik, rang the opening bell of trading in the Dubai Financial Market, to celebrate the listing, in the presence of the Chairman of the Board of Directors of the Dubai Financial Market, Hilal Al-Marri, and CEO of Salik, Ibrahim Al-Haddad, and the CEO of the Dubai Financial Market and Nasdaq. Dubai, Hamed Ali, along with a number of senior officials from both sides.

The company’s shares began trading under the symbol “SALIK” as a culmination of the successful public offering of its shares, as the strength of investment demand prompted the company to raise the offering ratio to 24.9% of the capital shares (equivalent to 1.867.5 million shares at two dirhams per share) instead of 20% as planned. in advance.

The total value of the subscription requests received amounted to 184.2 billion dirhams, which is 49 times more than the value of the shares offered, which reflects the strong demand for Salik shares from various categories of investors.

Commenting on this, Mattar Al Tayer said: “The listing of Salik on the Dubai Financial Market is a tangible evidence of investors’ confidence in the Dubai financial markets and its ambitions for growth, and confirms the success of the vision of His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai and Vice Chairman of the Board of Directors. Ministers and Minister of Finance, in doubling the size of the financial market, and attracting foreign investments.

On this occasion, I would like to welcome our new shareholders who joined us to continue this journey that Salik started 15 years ago, and today it has become one of the most important leading brands that played a pivotal role in managing traffic in Dubai.”

For his part, Hilal Al Marri said: “The listing of this leading company supports the ambitious strategy to develop the financial markets in Dubai, consolidates its leadership and enhances its future prospects, given that Dubai has a regional lead in terms of offering stakes in government groups since 2006, through Listing the shares of the Dubai Financial Market Company.

This is the third listing of its kind in the market since last April, and reflects the firm commitment of the Supreme Committee for the Development of Financial Markets, led by Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, to implement the development strategy and achieve its goals as usual in Dubai, in terms of speed and efficiency. achievement.”

In turn, Hamed Ali said: “The listing of Salik shares is a strong qualitative addition to the transportation sector in the financial market, and it also enhances our efforts to diversify investment opportunities and attract companies that reflect the vitality and growth of Dubai's economy.

This listing also represents an important step in the tireless and successful efforts of the Emirate of Dubai, to expand the base of ownership in a group of leading companies, and to provide the opportunity for investors in the Dubai Financial Market, to participate in the remarkable growth stories achieved by these companies, taking advantage of the distinguished business environment and the rapid economic growth in Emirate.”

The shares of “SALIC” were included in the transportation sector, without applying the approved price limits for the movements of shares on the first day of trading, provided that they are applied on the day following the listing.

 The market capitalization of Salik shares rose from 15 billion dirhams upon listing to 16.65 billion dirhams at the end of trading yesterday.

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