Financial market expert Muhammad Ali Yassin said the offer price of Salik toll collection system In the Dubai market, it came as a surprise to the two dirhams-per-share markets and investors and the company didn’t wait a week to go from underwriting to putting a price gap.
And Muhammad Ali Yassin added in an interview with Al-Arabiya today Wednesday that the profitability of “Salik’s” stake in the budget for the first half of this year was 10.6 fil per share, and in the case of repeating profitability in the second half of 2022, the earnings per share will be less than 22 A small cent, to record a multiple of profitability of less than 10 times, and therefore its valuation is attractive and close to the profitability multiples of the market .
The financial market expert explained that the investor always looks at the profitability booster and the investor enters the share price, which is on the minimum subscription price and the highest in distributions.
Muhammad Ali Yassin said that Salik can maintain a dividend rate of more than 6%, especially with the deduction of all allocations.
He added that maintaining the cost of the passage through the gates at 4 dirhams is good for the company, while if the price of the passage through the gates is increased by 5% to 4.2 dirhams, the revenue growth rates will increase by. 6% per annum.
In this year’s third IPO, the Dubai government intends to raise AH 3 billion from the initial public offering of the “Salik” road toll collection system, launched yesterday, and according to Bloomberg, yesterday’s claims exceeded the entire volume of the offer.
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