Dubai Taxi Company’s shares climbed almost 18% on their first day of trading on the DFM on Thursday to close at AED 2.18, up from their initial price of AED 1.85, Gulf News reports. More than 28k worth AED 64 mn changed hands within the first 15 minutes of trading. The IPO raised some AED 1.16 bn.

Dubai Taxi Company tapped BHM Capital as a liquidity provider for its shares listed on the DFM, the company stated in a DFM disclosure.

Advisors: Citigroup, Emirates NBD, and Merrill Lynch were joint global coordinators and joint bookrunners, while EFG Hermes UAE and FAB acted as joint bookrunners. Receiving banks included our friends at Mashreq as well as Emirates NBD, Abu Dhabi Islamic Bank, FAB, Ajman Bank, Commercial Bank of Dubai, Dubai Islamic Bank, and Emirates Islamic Bank.

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