Dubai Taxi Corporation plans landmark privatization for $300 million

As part of its impending initial public offering (IPO), the taxi operator intends to distribute a fourth-quarter dividend of at least AED71 million ($19 million) in April.

Emirate’s Transport Authority Unit Takes First Privatization Step in 2023

Dubai Taxi Corporation (DTC), a subsidiary of the emirate’s transport authority, is poised to embark on Dubai’s inaugural privatization initiative of the year. 

This strategic move aims to generate an estimated $300 million through a forthcoming share sale, scheduled for the upcoming month, as reported by Bloomberg, citing information from an investor presentation.

Insider Insights into the Privatization Strategy

Sources with access to the investor presentation have disclosed the comprehensive details of Dubai Taxi Corporation’s privatization plan. 

This landmark effort is expected to significantly impact the local transportation sector and the broader financial landscape.