Dubai's Salik Toll Company has said it intends to sell 20% of the company through an initial public offering.
Salik said in a document published today, Monday, that the company, which turned into a private joint stock company last June, will sell 1.5 billion shares to the public with its intention to list on the stock exchange on September 29.
Last November, Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance, announced a plan to convert Salik, which was at the time a division of the Roads and Transport Authority, into a public company.
The listing of Salik and nine other government-related companies on the stock exchange aimed to boost the activity of the stock market.
