The Dubai Securities and Exchange Higher Committee is planning to list the Salik road toll system on the Dubai Financial Market (DFM) as part of its efforts to strengthen the stock market and encourage Initial Public Offerings (IPO).
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 proposed listing on DFM aims to increase the size of the stock market in the Emirate to $816 billion in the coming period.
Salik, the automatic road toll collection system is one of Dubai’s leading infrastructure assets, with robust traffic volumes. The system, introduced by the Roads and Transport Authority (RTA) in 2007, utilizes 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, are designed to reduce traffic congestion, encourage the use of public transportation and alternative highways.
The number of vehicles registered in the Salik toll system is 3 million, out of which 1.8 million are registered in Dubai. A toll of $1.09 is automatically deducted from the users’ prepaid Salik toll account. With a Salik tag, the scanning technology automatically identifies a vehicle on a Dubai highway.
The Securities and Exchange Higher Committee’s strategy aims to list government and state-owned companies on the Dubai Financial Market (DFM) as part of accelerating new listings in sectors such as energy, logistics, and retail, as well as adopting innovative financial tools and instruments to meet investors’ current needs.
