Sign inSubscribe

Search Site

VideosInforgraphics
Sign inSubscribe
Trends banner

Business

Eni profit falls due to dip in oil prices

Q2 net profit fell by 18% to $637 million.

Emirates NBD H1 profit $3.40bn

Total income rose by 12 percent in the same period.

ADIB H1 pre-tax profit $1.08bn

Q2 pre-tax net profit increases by 14 percent.

AstraZeneca to invest $50bn in US

Bulk of funds to go into a Virginia manufacturing center.

UAB net profit up by 50% for H1

Total assets increase by 11 percent.

Salik IPO oversubscribed

Salik Company is Dubai’s exclusive toll-gate operator.
By TRENDS Desk
September 24, 2022 1:10 pm
  • In comparison to the previously announced 1.5 billion shares, equivalent to 20 percent, the government has sold more than 1.86 billion shares of the company or 24.9 percent
  • The Dubai government retains 75.1 percent of Salik’s existing share capital, which will be listed on the Dubai stock exchange on Sept. 29 under “SALIK"

Dubai, UAE— Salik has raised $1.017 billion in an initial public offering on the Dubai Financial Market.

According to a company statement, the IPO was oversubscribed 49 times across all tranches.

In comparison to the previously announced 1.5 billion shares, equivalent to 20 percent, the government has sold more than 1.86 billion shares of the company or 24.9 percent.

Among the cornerstone investors are the UAE Strategic Investment Fund, Dubai Holding, Shamal Holding, and Abu Dhabi Pension Fund, which have committed 606 million dirhams, representing 16.2 percent of the offering.

After listing, Cornerstone Investors’ shares are subject to a 180-day lock-up.

The Dubai government retains 75.1 percent of Salik’s existing share capital, which will be listed on the Dubai stock exchange on Sept. 29 under “SALIK.”

 

[adinserter block="5"]

Most Read

UAE’s working mothers get extended maternity leave

The Gulf country is setting a new benchmark for supporting working mothers by doubling the mandated maternity leave to 120 days, Kathryn Martin VFS Global tell TRENDS.

Getting vaccinated is ‘the most patriotic thing’ to do

The Fourth of July is a sacred day in our country. A day of history, of hope, remembrance and resolve with promise and possibilities. Before me stands monuments of the…

Saudi Arabia to generate $150 billion in investments from its new transport policy

The government would provide thirty-five percent of the investments The rest of it, sixty-five percent, will come from the private sector Saudi Arabia expects to generate $150 billion from investments…

GCC healthcare: Transforming the region and impacting the world

PwC forecasts that AI could contribute US$320 billion to Middle Eastern economies by 2030, with healthcare predicted to see some of the largest gains relative to its current size

New-Age Growth Comes Home to the GCC

The region, fueled by ambition and massive investment, is rapidly advancing in technology and infrastructure, aiming to secure a leading role in the 4IR.

[adinserter block="4"]