staff reporter. SUPPLIED

The Dubai Financial Market (DFM) welcomed the listing of shares of Salik Company (PJSC) on Thursday. The event is the third public DFM offering and listing in 2022, as part of the accelerated stages to implement Dubai's financial market development strategy, which includes issuing shares in ten leading businesses. Mattar Al Tayer, Chairman of Salik, rang the DFM market opening bell to celebrate the listing. Following the successful public offering, the Company's shares began trading under the symbol "SALIK." Due to high demand for the issuance, the Company increased the number of shares and offered 1,867,500,000 shares representing 24.9 percent of its share capital at a price of AED2 instead of 20 percent as initially planned. The sale was oversubscribed 49 times, with orders totaling AED184.2 billion, demonstrating the significant demand for Salik's shares from various investor groups. Salik shares are traded in the Transportation Sector. The DFM applied no price limits on the shares during the first day of trading, as they will be applied from the second day of listing. BKM/ Expat Media
For all the latest news from the UAE and the world, follow us on Facebook, Twitter and Instagram and subscribe to our YouTube page