Overview

Salik Company PJSC (“Salik”, “the Company”) was established through the issuance of Law No. (12) of 2022. It was formerly part of the Roads and Transport Authority (RTA) and has operated as Dubai’s exclusive road toll system since 2007. Salik announced its intention to float 20% of its total issued share capital on the Dubai Financial Market (“DFM”) on 5th September 2022.

Message from Chairman

CEOHis Excellency Mattar Al TayerDirector General, Chairman of the Board of Executive Directors of the Roads and Transport Authority and Chairman of Salik’s Board of Directors

“Dubai’s road and transport infrastructure is the backbone of the Emirate’s successful economic development, transforming mobility and quality of life for people and businesses. Salik has contributed significantly to Dubai’s rapid growth over the last 15 years, providing an innovative tolling solution that has made travel easier for 3.5 million residents along with millions of tourists visiting every year. Salik’s tariffs have supported the Government’s continuous investments in improving road networks in the city - efforts which underpin Dubai’s ranking as one of the best cities in the world in terms of the quality of road infrastructure.

The IPO is an important and exciting moment for Salik – it gives us a platform to build on our success as the exclusive toll operator of Dubai’s road network and support the vision of our wise leadership to make Dubai the best city to live in, in the world, and realise the objectives of the Dubai Urban Master Plan 2040.

Dubai is one of the fastest growing cities in the world today, with the population expected to grow by 70% over the next twenty years from 3.4m in 2020 to 5.8m in 2040. The road network and associated infrastructure will be vital to Dubai’s next phase of growth; and Salik is well positioned to support the mobility needs of the future.

As a forward-thinking company, Salik is focused on delivering real and lasting benefits to the city and the community. We are proud of our robust sustainability agenda designed to support Dubai’s transition to a carbon-free green economy in line with the Dubai Net Zero Carbon Emissions Strategy 2050 and the Dubai Clean Energy Strategy 2050. Salik has a world-class governance system and is committed to upholding the highest standards of efficiency and transparency to create value for all its stakeholders.

Guided by Dubai’s visionary leadership, a robust digital infrastructure and a highly experienced management team, we are and will continue to be at the forefront of driving connectivity for the millions finding their opportunity in the city.”

Salik at a glance

Salik currently operates eight toll gates along parts of Sheikh Zayed Road (“SZR”), Dubai’s premier traffic corridor, Al Maktoum Bridge, as well as the Airport Tunnel, enabling the fluid movement of 3.6 million registered vehicles. In 2021, 481 million journeys were made through the Salik toll gates, which includes tourists making their way to Dubai’s many attractions, or residents efficiently travelling as part of daily life. Salik operates through a 49-year concession agreement with the Roads and Transport Authority (RTA) under which it has the exclusive right to operate and collect tolls from the existing Salik gates and any future gates. Salik has the right to pursue additional opportunities beyond the regulated business.

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Toll Gates

3.6 million

Registered vehicles as of 30 April 2022

481 million

2021 total trips

5.5%

2013-2019 net toll traffic CAGR1

49 years

Concession duration

AED 1.7 billion

2021 revenue

81.9%

2021 EBITDA margin (66.8% on pro forma basis)2

0.1%

2021 capital expenditure-to-revenue3

99.9%

2021 cash flow conversion4

1Net toll traffic refers to total trips minus discounted trips (unpaid trips including taxis without passengers, exempted vehicles, gate-specific free time and discounts, and multiple violations and other). For more details, please refer to the prospectus.

2EBITDA margin is profit for the period, excluding the impact of interest, tax, depreciation, and amortisation expense, expressed as a percentage of revenue. For details on pro forma figures, please refer to the prospectus.

3Capital expenditure refers to the purchase of property and equipment

4Cash flow conversion is EBITDA plus loss on property and equipment disposal, minus purchase of property and equipment divided by EBITDA

Board of Directors

As at Listing and pursuant to the TEC’s Executive Council Resolution No. 34 of 2022, forming Salik Company PJSC’s Board of Directors, the Board consists of seven Directors of which there is 1 Executive Director and 6 Non-Executive independent Directors. Each of the Directors has been appointed for a term of 3 years. The Board meets at least every 3 months.

The management expertise and experience of each of the Directors is set out below.

His Excellency Mattar Al Tayer

His Excellency Mattar Al Tayer

Chairman, Non-executive

His Excellency Mattar Al Tayer, Commissioner General for Infrastructure, Urban Planning and Well-Being Pillar and Director General, Chairman of the Board of Executive Directors of the RTA, holds a Bachelor’s degree in Civil Engineering from the University of Wisconsin, USA, 1983. Prior to taking up the RTA’s leadership role, His Excellency had worked in the Dubai Municipality since 1983. His Excellency worked in several specialised and supervisory roles ranging from Director of the Roads Department up to Deputy Director General of Dubai Municipality.

His Excellency took leadership of the RTA in November 2005, where he oversaw its establishment phase including the recruitment of competent and experienced professionals. Under his leadership, the RTA has made remarkable achievements in a variety of fields, including radical development of the mass transit system through mega projects, like Dubai Metro (Red and Green Lines) and Dubai Tram. It has made a major shift in the bus and marine transit services, as well as the developments in the road network, including multiple crossings on Dubai Creek, such as the Infinity Bridge, Business Bay Crossing, Al Garhoud Bridge and the Floating Bridge. The RTA has also developed key roads and interchanges on Sheikh Zayed Road, Al Khail Road, Sheikh Mohammed bin Zayed Road and Emirates Road, as well as the construction of 15 projects to serve Expo 2020 costing more than AED 15 billion highlighted by Dubai Metro’s Route 2020 and a sprawling roads network. His Excellency has also overseen the improvement of the Dubai-Al Ain Road Project in addition to the Al Shindagha, Al Khawaneej and Tripoli Corridors. His Excellency’s portfolio includes an array of projects such as the Dubai Water Canal, Jumeirah Corniche, Etihad Museum, Enterprise Command and Control Center (EC3) and the Dubai Intelligent Traffic Systems Centre. Overall, His Excellency has overseen projects worth more than AED 140 billion undertaken by the RTA. Such achievements and projects have ranked the RTA amongst the leading and reputed global entities in the roads and transportation industry. Matching its outstanding record of achievements, the RTA has won several local, regional and international awards, amounting to more than 270 awards.

In His Excellency’s capacity as Commissioner General for Infrastructure, Urban Planning and Well-Being Pillar, Al Tayer oversaw the development of the Dubai 2040 Urban Master Plan, which sets out a long-term strategy for the emirate and identifies the core urban planning areas highlighted by well-being, housing, economy, and tourism as well as the governance and regulation of land uses, and the development of the Dubai Citizens Housing Policy. His Excellency oversees the implementation of projects under the Hatta Master Development Plan as he chairs the Supreme Committee for Hatta Master Development, Dubai landscape and rural development projects, in addition to the wellbeing initiatives and projects in the emirate. His Excellency also steers the corporate transformation scheme for government departments affiliated with the Infrastructure, Urban Planning and Well-Being namely Dubai Municipality, Dubai Land Department, and Mohammed bin Rashid Housing Establishment. This cooperation has paid dividends reflected in launching a host of initiatives across the emirate, such as:

  • a 20-Year Government Housing Programme (worth AED 65 billion);
  • the Unified Comprehensive Map of Dubai Lands; and
  • the Dubai RE-Tech Platform.
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Abdul Muhsen Ibrahim Kalbat

Abdul Muhsen Ibrahim Kalbat

Vice-chairman, Non-executive

Mr. Abdul Muhsen Ibrahim Kalbat has a wealth of more than 30 years of senior leadership experience in the public sector. He has been an essential and prominent member of the RTA’s Board of Directors from its inception in 2005. He has actively played a crucial role in the establishment of the RTA through the development of robust and effective governance, operational and cross-functional frameworks, and business organizational structure. He introduced creative management concepts and diverse approaches for improving administrative and technical processes across the RTA, which lead to transforming them from routine daily operations to a highly efficient strategic drive.

From 2005 through 2015, Mr. Kalbat was CEO of the RTA’s Strategy and Corporate Governance sector, where he undertook the responsibility to define and steer the RTA’s strategic direction towards fully integrated transportation solutions with the aim to shift private car use to public transport in support of Dubai’s long-term strategic development plan and vision. In 2011, he was awarded by His Highness Sheikh Mohammed Bin Rashid Al Maktoum, a medal of honour for his valuable contributions to the RTA’s excellence and government work.

Mr. Kalbat has been the CEO of the Rail Agency since 2015. During this period, he has been actively focusing his efforts on improving operational efficiency, maximizing revenue, and minimizing expenditure. In addition to his determination to expand, enhance and develop Dubai’s railway network, he is focused on the efficient and optimal utilisation of budget through the public-private partnership scheme. He has also accomplished significant cost-saving measures of more than AED 25 billion in development & operational costs. At the Rail Agency, he is currently overseeing a number of important and prestigious projects, most prominent of which is the AED 10.6 billion Route 2020 project.

He received his Bachelor of Arts in Computer Science from the University of the United Arab Emirates, Al Ain and is a graduate of Mohammed Bin Rashid Executive Leadership Development Program.

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Maitha Bin Adai

Maitha Bin Adai

Director, Non-executive

Engineer Maitha Bin Adai acts as CEO for the Traffic and Roads Agency at the RTA as of its establishment in 2005, during which Engineer Bin Adai has supervised the design and implementation of several projects including Dubai’s floating bridge project, the Dubai water canal, road projects for roads leading to Expo 2020, and the establishment of road toll operator services. Engineer Bin Adai manages an institution with an annual budget of approximately AED 4.6 billion, in addition to overseeing the planning, design, and operation and maintenance of road project infrastructures in the Emirate of Dubai, the approximate value of which amounts to AED 3.5 billion per annum. Additionally, Engineer Bin Adai supervises a multitude of strategic initiatives at the local and regional levels, centred around road safety and security and smart transportation, which attain an annual turnaround of approximately AED 5.1 billion.

Engineer Bin Adai maintains a comprehensive portfolio of awards on the global and regional levels, including the Sheikh Rashid Award for Scientific Excellence and the MBR Medal for her contribution in the success of the Dubai Metro project and road projects undertaken in support thereof, in addition to the Golden Excellence Shield by the Ambassador of Arab Cooperation for the Arab Council for Social Responsibility in the Hashemite Kingdom of Jordan in appreciation of Engineer’ s efforts in realising the business and social responsibility mission. Engineer Bin Adai has also earned the Prince Michael International Road Safety Award, as well as several awards from the Hamdan bin Mohammed Smart Government Programme. Engineer Bin Adai has been selected as one of the top 10 influential women leaders in the governmental sector by Forbes in 2018, as well as earning a Lifetime Achievement Award from the MEED International Foundation in 2018, and numerous other awards relating to leadership, infrastructure, and transportation.

Engineer Bin Adai acts as chairman of several important boards and committees in the transportation, traffic safety and sustainability sectors. Engineer Bin Adai holds a master’s degree in Transportation Engineering from the University of Newcastle, in addition to a Bachelor’s Degree in Civil Engineering from the University of Kuwait.

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Mohammed Al-Mudharreb

Mohammed Al-Mudharreb

Director, Non-executive

Mr. Mohammed Al-Mudharreb is a digital transformation leader in the mobility sector in Dubai, serving as the CEO of the RTA’s Corporate Technology Support Services. He is responsible for leveraging cutting edge technologies to create pioneering, digitally enabled experiences for drivers, commuters, and road users.

He built his extensive leadership portfolio and experience by serving as Director of Rail Operations at the RTA, where he oversaw one of the largest concession agreements in the region to run Dubai Metro and Dubai Tram and thereby promoted delivery of a world-class railway service in Dubai.

Mr. Al-Mudharreb was also responsible for the delivery and operation of the Automated Fare Collection System (the “Nol”) for all transport modes in Dubai as well as creating other commercial revenue streams utilising the Nolsuch infrastructure.

He is a member of numerous city-wide committees and taskforces that oversee the digital transformation journey in Dubai.

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Ibrahim Al Haddad

Ibrahim Al Haddad

Chief Executive Director and Board Member

Mr. Ibrahim Al Haddad is a highly experienced professional with 17+ years track record of delivering high impactful projects in both public and private sectors. Since he joined the RTA in 2013, he has focused on commercial transformation and public private partnerships projects and spearheaded the implementation of many marquee projects for the RTA, such has the Hala Joint Venture Agreement between the RTA and Careem, commercial transformation of Dubai Taxi, concession agreement with Hypermedia, and implementation of the RTA Invest Portal to name a few. Under his leadership, the Commercial and Investment Department won the CFI award for the “Most Innovative Logistics Project Investment Team – GCC 2019” and also achieved the ISO 10014:2006 Certification (first entity in the region to obtain the certification) which demonstrates that the RTA’s commercial and investment practices are in line with global leading practices.

Mr. Al Haddad holds a master’s degree in Real Estate Management from the University of South Wales – Sydney, in addition to a bachelor’s Degree in Architectural Engineering from the UAE University.

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Mohammed Abdulla Lengawi

Mohammed Abdulla Lengawi

Director, Non-executive

Mr. Mohammed Abdulla Lengawi is experienced in safety, security and crisis management, and airport operations with a strong business acumen. Further, he has hands-on experience in planning, organizing, coordinating, directing, and controlling the airport crisis functions and all matters related to aviation. Mr. Lengawi’s current role since 2016 is Executive Director of Aviation Security & Accident Investigation, where he is responsible for aviation security, risk minimization, policymaking and many other functions. He has a proven track record in managing a variety of departments and related functions with exceeding high-level management expectations.

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Mohammad Alhawi

Mohammad Alhawi

Director, Non-executive

Mr. Mohammed Alhawi is currently the Director of Economic Development of the Executive Council, where he leads Dubai economic policy and strategy development in coordination with all related stakeholders from both the public and private sectors. He also serves as Chairman of the Economic Team and reports to the Executive Council with the mandate of enhancing Dubai’s economic and competitive position.

During his previous role as Vice President in the Technology, Manufacturing & Mining Platform at Mubadala, Mr. Alhawi lead an international investment consortia of multi-billion dollar infrastructure projects. He was also responsible for the creation of the Research and Development strategy of the world’s 5th largest Aluminium company.

Holding various positions at the Prime Minister’s Office and The Executive Office over the years, Mr. Alhawi has a track record of using interpersonal skills, negotiation capabilities and crisis management skills for delivering institutional objectives. Mr. Alhawi also has experience in developing and implementing high-level government initiatives and government policies.

Mr. Alhawi received a Master of Science in Computer Science from University College London, in addition to a Bachelor of Science in Mathematics from Imperial College London.

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Management team

CEO

Ibrahim Al Haddad

Chief Executive Director and Board Member

Mr. Ibrahim Al Haddad is a highly experienced professional with 17+ years track record of delivering high impactful projects in both public and private sectors. Since he joined the RTA in 2013, he has focused on commercial transformation and public private partnerships projects and spearheaded the implementation of many marquee projects for the RTA, such has the Hala Joint Venture Agreement between the RTA and Careem, commercial transformation of Dubai Taxi, concession agreement with Hypermedia, and implementation of the RTA Invest Portal to name a few. Under his leadership, the Commercial and Investment Department won the CFI award for the “Most Innovative Logistics Project Investment Team – GCC 2019” and also achieved the ISO 10014:2006 Certification (first entity in the region to obtain the certification) which demonstrates that the RTA’s commercial and investment practices are in line with global leading practices.

Mr. Al Haddad holds a master’s degree in Real Estate Management from the University of South Wales – Sydney, in addition to a bachelor’s Degree in Architectural Engineering from the UAE University.

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CFO

Maged Ibrahim

Chief Financial Officer

Mr. Maged Ibrahim joined the RTA in 2010. Mr. Ibrahim worked for 12 years in the finance department of the RTA. He has 32 years of experience in finance and the audit field varied between Big4 Audit firms, and government and private entities. Highly qualified, analytical, and solution-driven professional with remarkable exposure in executing and leading the full spectrum of financial operations, he has developed expertise across fundraising, cost reduction, revenues maximization, megaproject financing, and financial management, Overseeing financial strategies in compliance with organization regulations to assure financial sustainability, consolidated financials, planning, budgeting, treasury operations, and accounting policies/procedures formulation. During 12 years within the RTA Finance department, he has overseen $8.0B of several mega infrastructure projects to present iconic landmarks in Dubai, from concept to final settlements. lead up to $4.0B various major financing facilities agreements varied between local financing and international financing through export credit agencies. He is a certified accountant with (CPA) from Illinois University in the United States and holds a master’s degree in business administration from the Canadian University, he is a Certified Fraud Examiner (CFE), Certified Internal Controls accountant (CICA), and IFRS Certified (CertIFR).

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tba

Tariq Ismail Mohammed

Chief Technology Officer – Expected to join in October 2022

The Directors expect Mr. Tariq Ismail Mohammed to join the Company as Chief Technology Officer in October 2022. Tariq is an experienced manager, with nearly 17 years of experience. He joins Salik from Injazat Data Systems, where he was the Hassantuk Program Director. Before that, he spent nearly a decade at the RTA as a deputy director and transportation systems manager and, later, as a senior manager in its Enterprise Command and Control Center. He holds a Bachelor’s degree of Information Technology from the American University in Dubai and a Master of Business Administration (MBA) from Bayes Business School – City, University of London.

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legal

Tariq Al Mutawa

Support Services Director – Expected to join in October 2022

The Directors expect Mr. Tariq Al Mutawa to join the Company as Support Services Director in October 2022. He joins the Company from Emirates Airlines, where he has over 10 years of management experience. Most recently, he served as the manager of Emirates Airlines for Thailand and, before that, he was the manager for Kuwait and Iraq. Tariq was previously the country manager for Emirates Airlines Bahrain and Qatar, and has significant experience managing large teams of 50-100+ employees. He holds a Bachelor’s degree from the American University in Dubai and a Masters degree in General Management from Coventry University.

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legal

Stephen Hibbert

Legal Counsel

Mr. Stephen Hibbert is an Australian lawyer, admitted to the Supreme Court of New South Wales in 1983. He has specialized in major projects, particularly in the transport and public infrastructure sectors.

He has over 25 years’ experience in the establishment and operations of toll roads throughout Australasia, where he acted for concession companies, banks, and financiers.

Over the last 15 years he has been working in the Middle East in private practice and, from 2012 to 2020 was the General Counsel of one of Qatar’s largest infrastructure agencies, the Qatar Railways Company. In that role, he oversaw the legal and contractual requirements for the design and construction of the Doha Metro project from inception to completion, and into full operations in 2020.

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Name

Position

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Description

  • Description

Our ESG highlights

Environment

Environment

  • Decreasing carbon footprint in line with Dubai’s ambition of achieving the world’s lowest carbon footprint by 2050
  • In 2018, Salik introduced the first solar powered toll gate at Jebel Ali
  • Committed to power all toll gates by solar energy in the medium term
  • Free Salik tags for owners of electric vehicles
  • In 2019, paperless tag registrations were introduced, saving 4.9 tons of CO2 per year
  • Each transaction made through a Salik smart channel instead of the service centre saves 12kg of CO2 emissions
  • 99% e-adoption across Salik users (via the Salik app or online)
Social

Social

  • Exemptions and toll subsidies for People of Determination, public transport and school buses, and charitable and public benefit organizations, among others
  • Diverse employee base with eight nationalities currently represented
  • High employee retention rate with over a decade of tenor among the Salik toll operations team
  • Best-in-class customer service: Helpdesk of the year for 2021, with customer satisfaction of 92%
Governance

Governance

  • Strong Board composition, processes and policies
  • Two non-RTA independent Directors and the CEO serving on the Board
  • Independent audit and remuneration committees
  • Business run in a way that upholds high standards of corporate governance
  • Balanced and transparent concession agreement with pre-determined mechanisms for inflation protection

Investment highlights

The Company is the sole toll gate operator for Dubai’s road network
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Strong growth momentum, benefiting from Dubai’s ambitious expansion plans and Salik’s organic growth initiatives
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Positioned to Benefit from Additional Growth Levers
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Well-invested and technologically advanced core infrastructure asset
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Favourable regulatory framework creating significant downside protection while enabling for future growth
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Capex-light business model resulting in high cash conversion levels and best-in-class operating margins
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Forward thinking organisation with a sustainable agenda aligned with Dubai’s ESG goals
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Timeline

IPO timeline

2022

Announcement of Intention to Float on the DFM
5 Sept 2022
Offer Commencement Date and Offer Price Announcement
13 Sept 2022
Close of Individual Subscribers (“First Tranche”) and Eligible Employees Tranches (“Third Tranche”)
20 Sept 2022
Close of Professional Investors Tranche (“Second Tranche”)
21 Sept 2022
Allocation of shares on the DFM
22 Sept 2022
Refund date
28 Sept 2022
Expected date of admission of shares on the DFM
29 Sept 2022

Key documents

Prospectus

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Intention to Float Announcement

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FAQs

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Public Announcement of the Offer Gulf News

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Salik Company PJSC Offer Price Announcement

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Offer price announcement Gulf News 13 September 2022

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International Offering Memorandum

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Announcement of Increase in Offer Size in Salik IPO to 24.9%

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Salik Company PJSC Successfully Completes Bookbuild for IPO Raising Over $1bn

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Pricing Confirmation Statement

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FAQs

What is Salik?
Why is Salik being listed and what will the proceeds of the IPO be used for?
What is Salik’s dividend policy?
Is the transaction Shari’a-compliant?
Who is eligible to subscribe to the IPO?
When can I invest in Salik and when do subscriptions close?
Which local banks can I subscribe for shares through?
How do I register for a DFM Investor Number (NIN) to subscribe to Salik’s IPO?
If I do not receive the full amount of shares I subscribed to, how will I be refunded?

For further information, please refer to the full list of FAQs under the ‘Key Documents’ section.

Receiving Banks

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Emirates NBD Bank PJSC (Lead Receiving Bank)

  • Account holders:

Account holders with Emirates NBD Bank can subscribe via the bank’s online internet banking and mobile banking application channel as well as through ATMs. Eligible persons can access Emirates NBD Bank’s ATMs with their debit card, and online banking or mobile banking application using their relevant username and password (as is customary with these channels). This will be deemed sufficient for the purposes of identification and accordingly the supporting documentation in relation to application set out elsewhere in this Prospectus will not apply to electronic applications.

  • Non-Account holders:

Subscribers without an Emirates NBD Bank account, who are either in the UAE or outside the UAE, can subscribe through the dedicated IPO website https://IPO.EmiratesNBD.com and pay through Online Banking via the UAE Central Bank Payment Gateway (“PGS”) or through UAE Central Bank Fund Transfer (“FTS”) or SWIFT.

In case of any issues or support, please contact the Emirates NBD Bank PJSC through our call centre 800 SALIK IPO [800 72545 476]

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Emirates Islamic

  • Account holders:

Account holders with Emirates Islamic Bank can subscribe via the bank’s online internet banking channel as well as through ATMs & Mobile application. Eligible persons can access the ATMs using their debit card, and internet banking accounts with their username and password (as is customary with electronic banking channels). This will be deemed sufficient for the purposes of identification with regard to their subscriptions.

  • Non-Account holders:

Please note that non-Emirates Islamic Bank customers will not be eligible for subscription through Emirates Islamic Bank’s electronic subscription channels.

In case of any issues or support, please contact the dedicated Emirates Islamic Bank IPO team through our call centre 800 SALIK IPO [800 72545 476]

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FAB

If you need any support, please call FAB Call Centre No. 026161800

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ADIB

  • ADIB’s electronic subscription channels, including online internet banking, are accessible via ADIB’s official website www.adib.ae and mobile banking app. These are duly interfaced with the DFM database and are only available to ADIB account holders.
  • ADIB account holders will access ADIB’s electronic subscription channels with their relevant username and password and this will be deemed to be sufficient for the purposes of fulfilling the identification requirements.
  • ADIB account holders complete the electronic application form relevant to their tranche by providing all required details including an updated DFM NIN, an active ADIB account number, the amount they wish to subscribe for, and by selecting the designated brokerage account.
  • By submitting the electronic subscription form, the ADIB account holder accepts the Offering terms and conditions, authorizes ADIB to debit the amount from the respective ADIB account and to transfer the same to the IPO account in favour of the issuer account held at ADIB, as detailed in the subscription application.
  • ADIB account holders with a successful subscription automatically receive an acknowledgement of receipt by email and have to keep this receipt until they receive the allotment notice.

For any further queries, kindly contact us on +971 2 652 0878

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Mashreq

  • Mashreq Bank’s Digital Journey will offer the functionality to existing Mashreq customers to digitally submit their IPO subscription requests, generate NINs with DFM & open brokerage account with Mashreq Securities real-time through one seamless journey via their Mashreq Mobile App. Eligible clients can also apply for up to 5 multiples of leverage through the same digital journey.
  • Non-Mashreq customers can avail the above by first opening their Mashreq NEO account instantly through the Mashreq NEO App.

For further clarifications please refer to https://mashreq.com/salik-ipo

You can also contact us on +971 4 424 4457

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Dubai Islamic Bank

For any queries kindly contact us on +971 4 609 2222

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Ajman Bank

  • Ajman Bank account holders will be able to subscribe for the IPO via Online Banking and through the nominated participating Branches. Please login to https://www.ajmanbank.ae to subscribe through our online banking channel by following simple steps.

For any further queries, kindly contact us on 800 22

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ADCB

  • Step # 1 ADCB customers to visit the https://www.adcb.com/salik and click IPO Subscription Link
  • Step # 2 Complete login authentication using UAE Pass or (Customer ID, Mobile Number and OTP)
  • Step # 3 Enter NIN Number
  • Step # 4 Select Broker, Enter Subscription Amount, Select Account and Submit.

For any further queries, kindly contact us on 600502030

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Mbank

  • Mbank UAE Mobile Banking Application
  • For applying through Al Maryah Community Bank LLC’s MBank UAE app, access https://www.mbank.ae/IPO.
  • Refer to the section “How to subscribe” for instructions on subscribing through Mbank UAE app on your mobile device (the app is available for download on the Apple App store and Google Play).
  • Applicants can also issue DFM NINs from the Mbank mobile app.
  • Subscription applications through Al Maryah Community Bank LLC will only be accepted if made by UAE residents.

For any further queries, kindly contact us on 600 571 111

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CBD

  • The IPO will be open to all CBD account holders.
  • Account holders can login to their CBD online banking portal and submit their interest for the IPO. The dedicated team will then contact the client and complete the requirements including opening up of CBD FS brokerage account.

For any further queries, kindly contact us on +971 4 212 1895

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Sharjah Islamic Bank

For queries, kindly contact us on +971 6 599 9999

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Contact

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Call centre

Emirates NBD Bank PJSC

800 SALIK IPO(800 72545 476)
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Subscription enquiries

Lead Receiving Bank: Emirates NBD Bank PJSC

800 SALIK IPO(800 72545 476)
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Investor relations enquiries

Mohamed Zein

Head of Investor Relations

Investor.relations@salik.ae
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Media enquiries

Salik Company PJSC

Maryam Hassan Abdulla Marzooq Alblooshi

Media Communication Manager

Maryam.HAlblooshi@rta.ae

FTI Consulting

Ajith Henry

Senior Director - Head of Financial Services and Capital Markets

Ajith.henry@fticonsulting.com
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