When investing in Dubai’s Salik Company, which operates toll gates, investors are recommended to get information from official sources, according to the company’s chief executive, who made this statement in an interview with Khaleej Times.
Over the past few months, a number of bogus posts encouraging citizens and investors to purchase Salik equities have circulated on social media. It allows users to “earn a steady income” by investing Dh950 in Salik shares.
The CEO of Salik Company, Ibrahim Al Haddad, told Khaleej Times on Tuesday, “I would like to advise people who are interested in investing in Salik to use official channels and be aware of fake social media posts.”
The toll gate operator, which is listed on the Dubai Financial Market, raised Dh3.735 billion ($1.017 billion) following record demand for its initial public offering (IPO) last year, which saw Dh184.2 billion ($50.2 billion) raised. It had set an offering price of Dh2 per share, resulting in a Dh15 billion valuation. Salik shares have increased by about 60% after going public on the Dubai Stock Exchange the previous year.
On the Dubai Stock Exchange, its shares have been trading fairly frequently. They ended Tuesday’s trading session at Dh3.16 per share, up 1.28%. 7.595 million shares were exchanged at its counter.
Also Read:
Central Bank of Oman Reports Surge in Foreign Assets and Local Liquidity
Tremors felt across UAE as 5.8 magnitude earthquake strikes near Oman coast
