Shearman & Sterling advised BofA Securities, Goldman Sachs, ENBD, Citigroup, HSBC and EFG-Hermes as joint bookrunners in connection with the AED 3.7 billion (US$1 billion) initial public offering and listing on Dubai Financial Market (DFM) of Salik Company PJSC, the exclusive toll gate operator in Dubai.

The IPO consisted of a public offering in the United Arab Emirates (UAE) and a private placement to institutional investors outside of the UAE. The IPO was oversubscribed more than 49 times across all tranches. Trading on DFM commenced on 29 September 2022 with a market capitalization at listing of AED 15.0 billion (US$ 4.1 billion)

The Team