Dubai Taxi Gets $41 Billion in Orders for $315 Million IPO
- Dubai Taxi priced shares at 1.85 dirhams, top of range
- The taxi IPO is Dubai’s first privatization in over a year
The overwhelming level of demand for Dubai Taxi’s IPO underscores the chasm between the Gulf’s booming listings market and the gloomy sentiment globally.
Photographer: Christopher Pike/BloombergThis article is for subscribers only.
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Dubai Taxi Co. received over 150 billion dirhams ($41 billion) in investor orders for its $315 million initial public offering, a record for the city, in a sign the Persian Gulf continues to be a bright spot for listings.
