On Tuesday, the Dubai Taxi Company PJSC (DTC) announced the price range for its initial public offering (IPO) and the beginning of the subscription period.
The IPO, which is currently taking place on the Dubai Financial Market (DFM), has an Offer Price Range valued at AED1.80 to AED1.85 per share.
This results in a market capitalisation between AED4.5 billion and AED4.6 billion (approximately $1.2 billion).
How to invest in the Dubai Taxi Company IPO
The offering will consist of 624,750,000 shares, representing 24.99 percent of DTC’s total issued share capital.
It is also important to note that the investment amount should be between AED5,000 and AED99,000,000,000.
That said, here is how you can subscribe to the Dubai Taxi IPO:
Via DFM
Step 1: Create a DFM account/Login with UAE Pass
- Download the DFM mobile application via Google Play on Android devices or App Store on iOS devices.
- Enter your personal details – first name, last name, email address, mobile phone, password.
- Scan your Emirates ID and go through facial recognition the mobile app.
- You can also login via your UAE pass account.
Step 2: Subscribe to the Dubai Taxi IPO
- On the DFM app, go to the ‘IPOs’ section.
- Click on ‘Dubai Taxi Company’ and then click on ‘Subscribe’.
- Next, click on the account you would like to subscribe for i.e your investor number or another investor number.
- Click on the available tranche you are subscribing to. Currently there is only ‘Tranche 1 – Public’ available for subscription.
- Enter the share value you would like to invest in the IPO.
- Click on ‘CDS- Dubai CSD’ to deposit your shares.
- You can either pay via your DFM iVESTOR card, online banking or through wire transfer.
Via Emirates NBD’s ENBD X mobile application
A simpler way to invest in the Dubai Taxi Company IPO is via the ENBD X mobile application.
Steps:
- Log in to the ENBD X mobile application, which is available for download both on Google Play for Android devices and App Store for iOS devices.
- Go to the ‘Transfer/Pay’ section of the mobile app.
- Under the ‘Payments’ section, click on ‘IPO subscription’.
- Enter the ‘IPO name’, ‘Category/Tranche’, and ‘Investor Number’.
- Enter the ‘Broker name’ from the list provided as well as the investment amount of your choice.
- ‘Slide to confirm’ after reading the Terms & Conditions of the IPO.
- Enter your ENBD X ‘Smart Pass’ pin to complete successful investment.
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