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Dubai Taxi company PJSC witnesses oversubscription in IPO

The overall size of the IPO stays intact at 624,750,000 ordinary shares, representing 24.99 percent of the firm's total issued share capital.

The overall size of the IPO stays intact at 624,750,000 ordinary shares, representing 24.99 percent of the firm’s total issued share capital.

Closing of Subscription Period Today

Today marks the closure of the subscription period for Dubai Taxi Company PJSC’s initial public offering (IPO), signaling the conclusion of the opportunity for investors to participate in this offering.

Increased Shares Offered Due to Oversubscription

Dubai Taxi Company PJSC has announced a notable increase in the number of shares offered in its IPO. The decision to augment the offering stems from a substantial oversubscription in the UAE Retail Offer segment.

Approval and Revised Offer Details

The Securities and Exchange Authority (SCA) has greenlit the increase, leading to a raise in the UAE Retail Offer from the initial 62,475,000 ordinary shares to a new total of 74,970,000 ordinary shares. This adjustment reflects the overwhelming interest and demand from retail investors in the UAE.

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