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We are excited to share the latest edition of the Law Update, beautifully and appropriately titled “Sustainable Horizons: The Saudi Arabian Vision.” Giving special honor to the Kingdom’s 2030 vision, this update focuses on a collection of both informative and inspiring articles.
For those in construction, you can learn about how the tendering environment impacts risk-pricing for contractors, the updates on the legal framework of the construction industry and how contractors can protect themselves against financial difficulties.
There is good news too from the kingdom’s banking sector, from which the practice of “Open Banking” is being pushed for! But what is open banking? We’re answering that too.
Also . . . Are there any women trail blazers in Saudi Arabia you can name? We’ll help you with that. We cover how the Middle East has been making strides in empowering women in the entrepreneurial space,most notably in STEM fields.Read the full edition
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.”
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