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Dubai Set to Sell 20% in Road-Toll Firm in Third IPO of the Year

  • Salik is third Dubai privatization to boost trading volumes
  • Company is said to target raising about $1 billion in IPO
Updated on

Dubai is selling a 20% stake in its road-toll collection system in a deal that could raise about $1 billion for the government, as part of the city’s ongoing efforts to boost trading volumes. 

The emirate will sell 1.5 billion shares in the company, known as Salik, according to a statement on Monday. The offering starts on Sept. 13, with an expected listing on the Dubai stock exchange on Sept. 29.