Dubai Securities and Exchange Higher Committee announces intention to list SALIK on Dubai Financial Market

Under the directives of His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance, the Dubai Securities and Exchange Higher Committee announced its intention to list SALIK on Dubai Financial Market (DFM).

The intended listing on DFM is part of the Dubai Securities and Exchange Higher Committee’s strategy to increase the size of the stock market in the Emirate to AED3 trillion in the coming period.

The Salik toll system is one of Dubai’s premier infrastructure assets, with robust traffic volumes. The system, introduced by the Roads and Transport Authority (RTA) in 2007, utilises the latest technologies to facilitate smooth traffic flows.

The eight Salik toll gates, Al Barsha, Al Garhoud, Al Maktoum, Al Mamzar South, Al Mamzar North, Al Safa, Airport Tunnel and Jebel Ali, aim to reduce traffic congestion, encourage the use of public transportation and the use of alternative roads.

The number of vehicles registered in the Salik toll system is 3 million, out of which 1.8 million are registered in Dubai.

The Securities and Exchange Higher Committee’s strategy seeks to list government and state-owned companies on the Dubai Financial Market (DFM) as part of accelerating new listings in various sectors including energy, logistics and retail, in addition to adopting innovative financial tools and instruments that can respond to the current needs of investors.

WAM/Hatem Mohamed