Dubai intends to list Salik toll system on Financial Market

Salik, Dubai’s toll system, is set to be listed on the Dubai Financial Market according to the Dubai Securities and Exchange Higher Committee.

The Committee is acting under the directive of Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, the Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance.

The intended listing is part of the Committee’s strategy to increase the size of the stock market in the Emirate to AED 3 trillion.

The Salik gate was first introduced in 2007 to reduce congestion on key roads and encourage the use of public transportation.

There are currently eight Salik toll gates across the emirates in Al Barsha, Al Garhoud, Al Maktoum, Al Mamzar South, Al Mamzar North, Al Safa, Airport Tunnel and Jebel Ali with three million registered vehicles across the UAE.

Salik becomes one of ten state-owned entities that is set to be listed on the market after Sheikh Maktoum announced the move on November 1.

Taking the announcement to Twitter on Saturday, Sheikh Maktoum said "the goal is to diversify the government companies that we list in the market in order to achieve the best return for investors within our markets."

اعتمدنا ضمن لجنة تطوير أسواق المال والبورصات بدبي خطة لإدراج نظام التعرفة المرورية "سالك" في سوق دبي المالي . منظومة سالك ناجحة، والاستثمار فيها يحمل فرصاً كبيرة، والهدف تنويع الشركات الحكومية التي ندرجها في السوق تحقيقاً لأفضل عائد للمستثمرين ضمن أسواقنا .

— Maktoum Bin Mohammed (@MaktoumMohammed) November 13, 2021

This new integration is part of Dubai’s interest in accelerating new listings in various sectors including energy, logistics and retail.

DEWA, the Dubai Electricity and Water Authority, was the first company to announce its intention to list on the exchange.

Meanwhile, the government also approved a two-billion-dirham market-maker fund to increase liquidity in the markets.