The Dubai Securities and Exchange Higher Committee announced that it plans to list its Salik road toll system on the Dubai Financial Market as part of efforts to boost its stock market and attract more listings amid a growing appetite for initial public offerings in the region.
The planned listing on DFM is part of the committee’s strategy to increase the size of the emirate’s stock market to Dh3 trillion ($816.8 billion) in the coming period, according to a statement issued on Saturday.
The Roads and Transport Authority implemented the Salik electronic system in 2007 to relieve traffic congestion on Sheikh Zayed Road and increase the state revenue.
The committee stated that the eight Salik toll gates, which are located in Al Barsha, Al Garhoud, Al Maktoum, Al Mamzar South, Al Mamzar North, Al Safa, Airport Tunnel and Jebel Ali, also aim to encourage the use of public transportation and alternative roads.
The Salik toll system has 3 million registered vehicles, 1.8 million of which are in Dubai.
Abu Dhabi also introduced its own toll gate system in January this year, which is activated during peak hours throughout the week, except on Fridays.
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