Dubai transport authority picks Rothschild & Co for asset evaluation

The RTA and Rothschild & Co didn’t reply instantly to a request for remark.

The authority final yr raised $1 billion and drew orders of $50 billion for a 24.9 per cent stake in a public share sale of its toll-road enterprise Salik.

Dubai raised practically $8.5 billion from 5 IPOs final yr, fuelled by a authorities privatisation plan to checklist 10 state-linked firms to spice up inventory market exercise.

Future IPO candidates may embody power firm ENOC and airport companies supplier dnata.

Reuters reported in June that the RTA invited boutique banks to pitch for an advisory function in a strategic evaluation of its property, together with a attainable IPO of its taxi enterprise.

The authority was additionally taking a look at potential choices for its public parking property and the Nol card, which passengers use to pay for public transport throughout the emirate.

Firms within the area raised $21.9 billion by means of IPOs final yr, greater than half the whole for the broader Europe, Center East and Africa area, Dealogic knowledge reveals.