Law firm advises on Salik IPO

Al Tamimi & Company is proud to announce that it is advising Salik, Dubai’s exclusive toll gate operator, on its landmark initial public offering (“IPO”) and listing on the Dubai Financial Market (“DFM”). The offer for sale of 1.5 billion shares in Salik by Salik’s sole shareholder, the Government of Dubai, acting through the Department of Finance, commenced today with listing on the DFM due on 29 September 2022.

Commenting on the Salik IPO, Andrew Tarbuck, Head of Capital Markets at Al Tamimi & Company said:

“We are delighted to be advising Salik on this bumper IPO and to be a part of the wider privatization project of the Government of Dubai.

“This IPO was particularly challenging given that Salik, historically a business unit of the RTA since 2007, needed to be established as a stand-alone corporate entity in readiness for an IPO. This required close liaison with all relevant stakeholders including the Government of Dubai, The Dubai Executive Council, the Supreme Legislative Council and, of course, the RTA.”