EFG Hermes Completes Advisory on USD 315 Million IPO of Dubai Taxi Company on the DFM
تاريخ النشر: 7th, December 2023 GMT
The transaction comes as the Firm’s eighth advisory role on an IPO in the GCC region in 2023.
EFG Hermes، the leading investment bank in Frontier and Emerging Markets (FEM)، announced today that its investment banking division successfully completed its advisory on the USD 315 million initial public offering (IPO) of Dubai Taxi Company (DTC)، a leading provider of comprehensive mobility solutions in Dubai، on the Dubai Financial Market (DFM).
DTC offered a total of 24.99% of its total issued share capital through the sale of 624،750،000 existing shares at AED 1.85 per share – implying a market capitalization of AED 4.6 billion (USD 1.26 billion).
The IPO was met with a robust AED 150 billion (USD 41 billion) demand for shares from local، regional، and international investors، with the total book covered approximately 130x. The company began trading today under the ticker DTC.
Mostafa Gad، Head of Investment Banking at EFG Hermes commented، “We are proud to be part of DTC’s IPO on the DFM and its resounding success. Leveraging our extensive experience in transformative transactions، this venture not only reaffirms our commitment to contributing to the UAE’s burgeoning equity capital market activity but also underscores our strategic growth in the region. DTC’s evolution from a pioneering taxi service to a multifaceted mobility solutions provider reflects its adaptability and market resilience، which has been widely reflected in the robust demand received for the offering from a diverse set of investors. Our team's dedication، coupled with our track record in high-profile IPOs، reinforces our role as a trusted advisor in market-defining transactions. This IPO marks another milestone in our series of impactful deals in the GCC region، further solidifying our position as the leading investment bank in Frontier and Emerging Markets. We anticipate continued success for DTC as it embarks on this new chapter as a publicly listed company.”
Dubai Taxi Company PJSC stands out as a prominent provider of comprehensive mobility solutions in Dubai. As of June 30، 2023، DTC commands a substantial 44% market share in the taxi fleet، solidifying its position as the foremost taxi operator in Dubai. In contrast، DTC’s closest competitor holds a 22% market share. Established in 1994 as a taxi company، Dubai Taxi Company has strategically expanded beyond its initial scope، capitalizing on its dominant leadership in the taxi sector and operational prowess. The company boasts a diverse portfolio encompassing taxi services with a focus on an eco-friendly fleet، luxury VIP limousine services، bus services covering school and commercial routes، and last-mile delivery services facilitated by delivery bikes.
The transaction marks EFG Hermes’ eighth advisory role on an IPO this year and is the latest in a series of landmark deals the Firm has advised on in the GCC region over the years، including most recently، the advisory on the IPO of OQ Gas Networks on the Muscat Stock Exchange (MSX)، the largest Omani IPO in over two decades. It also advised on the IPO of ADES Holding Company on the Saudi Exchange، as well as the successful IPOs of ADNOC L&S and ADNOC Gas Plc on the Abu Dhabi Securities Exchange (ADX); IPO of Lumi Rental Company on the Saudi Exchange; Abraj Energy Services on the MSX; and Al Ansari Financial Services PJSC on the Dubai Financial Market (DFM).
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Zain Jordan Wins Arab CSR & Sustainability Award 2025
صراحة نيوز-
Dubai, October 13th, 2025: Zain Jordan has been awarded the Arab CSR & Sustainability Award 2025 in the Large Business Category, presented by the Arabia CSR & Sustainability Awards. The recognition highlights the company’s remarkable contribution and leadership in driving sustainable development through a balanced focus on economic growth, environmental protection, and community support.
This award further reinforces Zain Jordan’s pioneering position as one of the first national companies to establish a comprehensive sustainability and corporate social responsibility (CSR) strategy. The company has embedded the UN Sustainable Development Goals (SDGs) into its core operations, making sustainability an integral part of its business approach. This commitment is reflected in the many impactful initiatives and partnerships Zain Jordan has launched to support local communities and promote sustainable growth dedicating a portion of its annual profits to CSR initiatives. These collective efforts have earned the company second place in this year’s award.
Zain Jordan’s sustainability vision extends beyond its internal operations to include its partners and suppliers, ensuring their alignment with the company’s ethical and sustainability standards. The company has achieved notable progress in youth and women empowerment, inclusion of people with disabilities, and environmental initiatives aimed at combating climate change and reducing carbon emissions, reflecting its long-term vision of building a more sustainable and inclusive future.
The 18th edition of the Awards was held under the patronage of His Highness Sheikh Eng. Salem Bin Sultan Bin Saqr Al Qasimi, Chairman of the Department of Civil Aviation, Ras Al Khaimah, and Member of the Executive Council of the Government of Ras Al Khaimah. The event brought together prominent leaders, decision-makers, and representatives from leading regional institutions to celebrate organizations that have made sustainability central to their business models.
The Arabia CSR & Sustainability Award is regarded as one of the region’s most prestigious recognitions in governance, sustainability, and social responsibility. It assesses organizations based on international standards of transparency, accountability, and sustainable impact.
It is worth mentioning that Zain Jordan was previously honored with the Al-Hussein Decoration for Distinguished Contribution of the First Class by His Majesty King Abdullah II in recognition of its service to the Kingdom and its contribution to the local community. The company also received the Silver Jubilee Medal from His Majesty for its efforts in advancing Jordan’s telecommunications sector. Most recently, Zain Jordan received the Middle East Excellence Award 2025 for Technological Excellence for its regional data and disaster recovery center, The Bunker, awarded by Asian Business Review magazine in Dubai, UAE.
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