Dubai Taxis that belong to the road transportation authority (RTA), are seen parked during the 24 hour lockdown to counter the coronavirus (Covid-19) outbreak in front of Dubai Global village, in Dubai, United Arab Emirates April 6, 2020. REUTERS/Ahmed Jadallah/File Photo Acquire Licensing Rights
DUBAI, Nov 21 (Reuters) – Dubai Taxi Company (DTC) on Tuesday kicked off the subscription period for its upcoming initial public offering (IPO), and announced a price range for the offering, which would value it at up to 4.6 billion dirhams ($1.25 billion).
DTC, which plans to offer a 25% stake through a public sale, set a range between 1.80 dirhams and 1.85 dirhams per share, implying a market capitalisation at listing of 4.5 billion dirhams to 4.6 billion dirhams, it said in a statement.
The final offer price is expected to be announced on Nov. 30. Shares are scheduled to begin trading on…
