{"id":87004,"date":"2023-11-30T00:00:00","date_gmt":"2023-11-30T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/dubai-taxi-bumps-retail-tranche-of-its-ipo\/"},"modified":"2023-11-30T00:00:00","modified_gmt":"2023-11-30T00:00:00","slug":"dubai-taxi-bumps-retail-tranche-of-its-ipo","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2023\/11\/30\/dubai-taxi-bumps-retail-tranche-of-its-ipo\/","title":{"rendered":"Dubai Taxi bumps retail tranche of its IPO"},"content":{"rendered":"

Dubai Taxi\u2019s USD 315 mn IPO got USD 41 bn in orders:<\/strong> Dubai Taxi received AED 150 bn (USD 41 bn) in orders for its AED 1.2 bn (USD 315 mn) initial public offering, with orders from investors covering the transaction 130x, according to a statement (pdf)<\/a> from the company. The appetite came from both institutional and individual investors, it said.<\/p>\n

More retail shares will be on offer<\/strong> after global coordinators boosted the retail tranche to 12% of the offering from 10% originally. The institutional tranche has been nudged down two percentage points to 88% of the offering.<\/p>\n

REMEMBER-<\/strong> The company garnered enough orders<\/a> to fully cover the retail tranche within only an hour of opening on 21 November. <\/p>\n

The transaction: <\/strong>The Dubai government is selling a 25% stake at AED 1.85 per share and has priced the offering at the top of the range it had initially offered on the back of strong demand, valuing the company at AED 4.6 bn (c. USD 1.26 bn). <\/p>\n

L<\/strong>ast call: <\/strong>The subscription period for UAE retail investors will close today, with the curtains closing for qualified investors shortly after on Thursday. DTC\u2019s IPO completion and admission is expected for 7 December, subject to UAE market conditions and regulatory approvals.<\/p>\n

ADVISORS-<\/strong> Rothschild & Co. Middle East is serving as the financial advisor. CitiGroup, Merrill Lynch and Emirates NBD are global coordinators and joint bookrunners. Our friends at EFG Hermes and FAB are also bookrunners on the transaction.<\/p>\n

The healthy appetite for DTC\u2019s offering comes as IPOs in the UAE have been booming<\/strong>, leading the GCC\u2019s IPO market in terms of value in 9M 2023, Zawya<\/a> reported previously, citing Kuwait Financial Center (Markaz). In the first nine months of the year, we saw four IPOs worth a combined USD 3.9 bn going to market here in the UAE, according to Markaz. DTC\u2019s listing on the DFM comes months after Adnoc listed the largest-ever IPO<\/a> on ADX, raising USD 769.5 mn.<\/p>\n","protected":false},"excerpt":{"rendered":"

The offering is 130x oversubscribed so far<\/p>\n","protected":false},"author":1,"featured_media":87005,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1685],"tags":[332,7,1392,205],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-87004","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-privatization-watch","tag-dubai-taxi-company","tag-enterpriseam-uae","tag-ipo","tag-privatization-watch","wpautop","entry"],"acf":{"mongo_id":"42e167c9-1cc8-43c2-903d-e08aadaf3813","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/11\/1657.jpg","photo_position":"below","homepage_title":"","full_issue_title":"Dubai Taxi bumps retail tranche of its IPO on strong demand","related_issue":[87001],"teaser":"The offering is 130x oversubscribed so far","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/1\/.69dd96de-3601-4f10-ab10-04f43a00f1e9.mp3"},"yoast_head":"\nDubai Taxi bumps retail tranche of its IPO - UAE<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/uae\/2023\/11\/30\/dubai-taxi-bumps-retail-tranche-of-its-ipo\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dubai Taxi bumps retail tranche of its IPO\" \/>\n<meta property=\"og:description\" content=\"The offering is 130x oversubscribed so far\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/uae\/2023\/11\/30\/dubai-taxi-bumps-retail-tranche-of-its-ipo\/\" \/>\n<meta property=\"og:site_name\" content=\"UAE\" \/>\n<meta property=\"article:published_time\" content=\"2023-11-30T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1657.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/2023\/11\/30\/dubai-taxi-bumps-retail-tranche-of-its-ipo\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2023\/11\/30\/dubai-taxi-bumps-retail-tranche-of-its-ipo\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Dubai Taxi bumps retail tranche of its IPO\",\"datePublished\":\"2023-11-30T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2023\/11\/30\/dubai-taxi-bumps-retail-tranche-of-its-ipo\/\"},\"wordCount\":321,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2023\/11\/30\/dubai-taxi-bumps-retail-tranche-of-its-ipo\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1657.jpg?fit=%2C&ssl=1\",\"keywords\":[\"Dubai Taxi Company\",\"EnterpriseAM UAE\",\"IPO\",\"Privatization Watch\"],\"articleSection\":[\"PRIVATIZATION WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/2023\/11\/30\/dubai-taxi-bumps-retail-tranche-of-its-ipo\/\",\"url\":\"https:\/\/enterpriseam.com\/uae\/2023\/11\/30\/dubai-taxi-bumps-retail-tranche-of-its-ipo\/\",\"name\":\"Dubai Taxi bumps retail tranche of its IPO - UAE\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2023\/11\/30\/dubai-taxi-bumps-retail-tranche-of-its-ipo\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2023\/11\/30\/dubai-taxi-bumps-retail-tranche-of-its-ipo\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1657.jpg?fit=%2C&ssl=1\",\"datePublished\":\"2023-11-30T00:00:00+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2023\/11\/30\/dubai-taxi-bumps-retail-tranche-of-its-ipo\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/uae\/2023\/11\/30\/dubai-taxi-bumps-retail-tranche-of-its-ipo\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/2023\/11\/30\/dubai-taxi-bumps-retail-tranche-of-its-ipo\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1657.jpg?fit=%2C&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1657.jpg?fit=%2C&ssl=1\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/2023\/11\/30\/dubai-taxi-bumps-retail-tranche-of-its-ipo\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/uae\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Dubai Taxi bumps retail tranche of its IPO\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/#website\",\"url\":\"https:\/\/enterpriseam.com\/uae\/\",\"name\":\"UAE\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/uae\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/#organization\",\"name\":\"UAE\",\"url\":\"https:\/\/enterpriseam.com\/uae\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/42998.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/42998.svg\",\"caption\":\"UAE\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\",\"name\":\"enterpriseam admin\",\"sameAs\":[\"http:\/\/enterpriseam.testing.projectsarea.com\"],\"url\":\"https:\/\/enterpriseam.com\/uae\/author\/enterpriseam\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Dubai Taxi bumps retail tranche of its IPO - UAE","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/uae\/2023\/11\/30\/dubai-taxi-bumps-retail-tranche-of-its-ipo\/","og_locale":"en_US","og_type":"article","og_title":"Dubai Taxi bumps retail tranche of its IPO","og_description":"The offering is 130x oversubscribed so far","og_url":"https:\/\/enterpriseam.com\/uae\/2023\/11\/30\/dubai-taxi-bumps-retail-tranche-of-its-ipo\/","og_site_name":"UAE","article_published_time":"2023-11-30T00:00:00+00:00","og_image":[{"url":"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1657.jpg?fit=%2C&ssl=1","type":"","width":"","height":""}],"author":"enterpriseam admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"enterpriseam admin","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/enterpriseam.com\/uae\/2023\/11\/30\/dubai-taxi-bumps-retail-tranche-of-its-ipo\/#article","isPartOf":{"@id":"https:\/\/enterpriseam.com\/uae\/2023\/11\/30\/dubai-taxi-bumps-retail-tranche-of-its-ipo\/"},"author":{"name":"enterpriseam admin","@id":"https:\/\/enterpriseam.com\/uae\/#\/schema\/person\/ca597032db7e4db868359c123cec256d"},"headline":"Dubai Taxi bumps retail tranche of its IPO","datePublished":"2023-11-30T00:00:00+00:00","mainEntityOfPage":{"@id":"https:\/\/enterpriseam.com\/uae\/2023\/11\/30\/dubai-taxi-bumps-retail-tranche-of-its-ipo\/"},"wordCount":321,"publisher":{"@id":"https:\/\/enterpriseam.com\/uae\/#organization"},"image":{"@id":"https:\/\/enterpriseam.com\/uae\/2023\/11\/30\/dubai-taxi-bumps-retail-tranche-of-its-ipo\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1657.jpg?fit=%2C&ssl=1","keywords":["Dubai Taxi Company","EnterpriseAM UAE","IPO","Privatization Watch"],"articleSection":["PRIVATIZATION WATCH"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/uae\/2023\/11\/30\/dubai-taxi-bumps-retail-tranche-of-its-ipo\/","url":"https:\/\/enterpriseam.com\/uae\/2023\/11\/30\/dubai-taxi-bumps-retail-tranche-of-its-ipo\/","name":"Dubai Taxi bumps retail tranche of its IPO - UAE","isPartOf":{"@id":"https:\/\/enterpriseam.com\/uae\/#website"},"primaryImageOfPage":{"@id":"https:\/\/enterpriseam.com\/uae\/2023\/11\/30\/dubai-taxi-bumps-retail-tranche-of-its-ipo\/#primaryimage"},"image":{"@id":"https:\/\/enterpriseam.com\/uae\/2023\/11\/30\/dubai-taxi-bumps-retail-tranche-of-its-ipo\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1657.jpg?fit=%2C&ssl=1","datePublished":"2023-11-30T00:00:00+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/uae\/2023\/11\/30\/dubai-taxi-bumps-retail-tranche-of-its-ipo\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/uae\/2023\/11\/30\/dubai-taxi-bumps-retail-tranche-of-its-ipo\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/uae\/2023\/11\/30\/dubai-taxi-bumps-retail-tranche-of-its-ipo\/#primaryimage","url":"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1657.jpg?fit=%2C&ssl=1","contentUrl":"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1657.jpg?fit=%2C&ssl=1"},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/uae\/2023\/11\/30\/dubai-taxi-bumps-retail-tranche-of-its-ipo\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/uae\/"},{"@type":"ListItem","position":2,"name":"Dubai Taxi bumps retail tranche of its IPO"}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/uae\/#website","url":"https:\/\/enterpriseam.com\/uae\/","name":"UAE","description":"The State of the Nation","publisher":{"@id":"https:\/\/enterpriseam.com\/uae\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/uae\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/uae\/#organization","name":"UAE","url":"https:\/\/enterpriseam.com\/uae\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/uae\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/42998.svg","contentUrl":"https:\/\/ent.news\/internal\/42998.svg","caption":"UAE"},"image":{"@id":"https:\/\/enterpriseam.com\/uae\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/enterpriseam.com\/uae\/#\/schema\/person\/ca597032db7e4db868359c123cec256d","name":"enterpriseam admin","sameAs":["http:\/\/enterpriseam.testing.projectsarea.com"],"url":"https:\/\/enterpriseam.com\/uae\/author\/enterpriseam\/"}]}},"featured_image_src":"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1657.jpg?resize=600%2C400&ssl=1","featured_image_src_square":"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1657.jpg?resize=600%2C600&ssl=1","author_info":{"display_name":"enterpriseam admin","author_link":"https:\/\/enterpriseam.com\/uae\/author\/enterpriseam\/"},"jetpack_featured_media_url":"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1657.jpg?fit=%2C&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/posts\/87004","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/comments?post=87004"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/posts\/87004\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/issue\/87001"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/media\/87005"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/media?parent=87004"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/categories?post=87004"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/tags?post=87004"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/brand?post=87004"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=87004"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}