IPO

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Welcome to the IPO of DTC

Dubai Taxi Company PJSC was established as a taxi company in 1994 and has since expanded to other mobility segments by leveraging our dominant market leadership and operational strengths. We offer an extensive range of transportation solutions across four key business lines, including taxi services, VIP limousine services, bus services and last mile delivery bike services. Given the size of DTC's fleet, coupled with its exclusivity in key locations, the Company's red-roofed taxis are near ubiquitous in key areas across Dubai.

We are pleased to announce our intention to offer 624,750,000 shares, representing 24.99% of our share capital, through an initial public offering and listing of our shares on the Dubai Financial Market. Our IPO provides a unique opportunity for investors to participate in a sector with strong macroeconomic tailwinds that is well-positioned for growth.

Chairman's Message

“Thanks to the wise leadership of His Highness, Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, Dubai continues to demonstrate its commitment to growing world-class businesses and strengthening its robust capital markets. Benefitting from Dubai’s exceptional infrastructure and an ambition to double the size of its economy by 2033, supported by the Dubai Urban Master Plan 2040 which maps out a comprehensive plan for sustainable urban development in the emirate, Dubai Taxi Company remains key to the growth, mobility and sustainability vision of Dubai, playing an integral role in moving and connecting the millions who call Dubai home and the rapidly increasing number of tourists who visit the UAE every year. Through this offering, DTC is proud to support the continuation of the privatization programme pursued by the Emirate of Dubai, providing a further opportunity for foreign investment and fostering a culture of world-leading innovation and industry.”

Abdul Muhsen Ibrahim Kalbat

Chairman of the Board of Directors, DTC

What Do We Do?

(Numbers as of June 2023)

Taxis

We operate 5,216 taxis transporting customers throughout the Emirates for journeys beginning in Dubai, catering to a wide customer base through our ladies and family taxis and people of determination taxis.

VIP Limousines

We provide 387 luxury chauffeur-driven vehicles for visitors to Dubai, business professionals and other clients with competitive rates, convenient booking and 24/7 customer care, including two premium limousine options.

Bus Services

Our fleet of 946 buses serve more than 24,500 school and university students under long-term contractual agreements with private schools and the Ministry of Education in Dubai and Ajman.

Delivery Bikes

We offer 597 petrol-powered delivery bikes and trained, professional drivers to service the delivery needs of Dubai-based restaurants and food retailers.

DTC in Numbers

#

1

Taxi operator in Dubai by taxi fleet ¹

~

44 %

Market share by taxi fleet ¹

400 k

Downloads of the DTC App ²

42 million

Total taxi trips ³

7000

+

Total vehicles operated ¹

14000

+

Driver partners ¹

AED ~

1.8 billion

Revenue for FY2022
(+31% YoY)

AED ~

1.4 billion

Revenue for 9M 2023
(+11% YoY)

~

25.5 %

EBITDA Margin for 9M 2023

¹ As at 30 June 2023
² As at 30 April 2023
³ Between 1 July 2022 and 30 June 2023

Investment Highlights

Operating in an attractive market with strong macroeconomic tailwinds

The taxi and e-hailing market in Dubai is expected to grow in part as a result of an approximately 3% projected CAGR in Dubai's population from 2023 to 2040, coupled with a forecasted approximately 20% CAGR growth in tourist visits to Dubai from 2022 to 2025.
Dubai International Airport, where DTC taxis and limousines enjoy exclusive access to pick-up points, has been the busiest international airport for international passengers for nine consecutive years as of 2022.
Government strategic plans, including the Dubai Economic Agenda D33 and the 2040 Master Plan, aim to double the size of Dubai's economy over the next decade, expand the breadth and quality of residential areas and position Dubai among the top three global cities.

Largest taxi operator in Dubai with a dominant market share

#1 market share with approximately 44% of total taxis as at 30 June 2023, twice as large as the next largest taxi operator (and providing 44% of total revenue kilometers travelled by taxi and approximately 39% of taxi trips as at 31 May 2023).
DTC has longer trips on average resulting in increased revenue per trip compared to other taxi franchises.
Three decades of experience and the size of its operations provides DTC with significant economies of scale and negotiating leverage for its payment terms with car and parts suppliers, fuel providers and other vendors.
DTC's market position is further supported by its ability to win key commercial contracts on an exclusive basis and at prime sought-after locations.
Its exclusivity in key locations (for taxis and limousine services) protects DTC's market position and drives strong customer engagement due to the availability of cars and low waiting time at key locations with high pick-up volumes.
DTC's scale has allowed the creation of its own operating control centre ("OCC") with in-house analytics.

Favourable taxi regulatory framework, creating high barriers to entry

DTC benefits from a favourable regulatory framework with high barriers to entry.
Since 2018, the RTA has issued only 1,350 new license plates in the Dubai market, reflecting its policy of avoiding oversupply.
Every RTA auction is open to the existing five taxi franchisees operating under franchise agreements with the RTA. Any other bidders would need to go through the RTA's extensive pre-authorisation process before being able to bid.
The RTA has established a robust and defensive pricing system that provides a certain level of protection from competition and from volatility in the franchisees’ costs while allowing for adjustments to account for fuel prices and adhoc inflationary adjustments.
Management believes that DTC's significant market share, network operational capabilities and economies of scale provide it with an advantage in delivering against the RTA's key performance indicators and auction criteria.
RTA mandates that customer tariffs for limousines must be at a premium of at least 30% above taxi customer tariffs through mandatory licensing requirements for limousine drivers.
While other geographic markets often allow new entrants into the market through e-hailing apps, the Dubai taxi and limousine market is regulated by the RTA.
Such mandates provide a key point of value and security for DTC taxis given the impact and displacement e-hailing services have had in competing with local taxis in other geographic markets.

Leading comprehensive UAE mobility company with focused workforce management

DTC is a diverse and dynamic company operating in other mobility segments aside from its taxi franchise, therefore offering a comprehensive portfolio of transportation services.
Within the limousines business line, as of 30 June 2023, the Company operated 387 luxury vehicles, offering chauffeur-driven services tailored for Dubai's thriving tourism industry.
DTC launched the Ameera limousine, Dubai's first limousine fleet driven by women for women, as well as a fleet of luxury electric cars.
As at 30 June 2023, the Company operated 946 buses including school buses and commercial buses and has secured key contracts with private and public partners and most notably with the UAE Ministry of Education for transportation in Dubai and Ajman.
Following the Covid-19 pandemic and the increasing demand for online shopping and other delivery services, DTC launched its own delivery bikes service in 2022.
DTC ensures driver-support with a driver-to-taxi fleet ratio of 2.37x, a performance-based commission system, health insurance benefits, rewards, Shukran programme, and an in-house psychologist.

Integrated business model, leveraging superior technology solutions

DTC has invested significant resources in developing its technology infrastructure, which can be scaled in the future.
DTC was one of the first companies to participate in the e-hailing business and to enter into a partnership with Hala in 2019 to cater for the very nascent e-hailing market in Dubai.
In 2020, the e-hailing sector represented only 11% of Dubai's taxi services, increasing to 31% by H1 2023, with DTC contributing 33%. The Dubai government aims for e-hailing to generate 80% of these services in the coming years.
In parallel to partnering with Hala, DTC launched its own proprietary application to cater for e-hailing, the DTC App, which is currently only providing VIP limousines services and is interlinked with key booking engines and partner portals. DTC also launched its own app for its bus business line.
DTC also relies on innovative solutions such as the RTA's "Taxi eHail Automated Management Systems" ("TEAMS") architecture and its own advanced OCC where it is able to track live 24/7 its operations, fleet and monitor live key performance indicators.
DTC has made and intends to make further investments in AI, automation, big data and integration into Dubai's smart-city initiatives, which will be commanded at its own advanced OCC.

Seasoned senior managers and a wider management team with strong execution capabilities

DTC’s senior managers and wider management team are significantly experienced within the Company and the RTA, providing it with a highly valuable understanding of the entire mobility sector
The Company is further supported by committed stakeholders such as the RTA and its current shareholder, the Department of Finance (“DoF”), who support the senior managers and wider management team in their aim to provide the best services and exceed customer expectations.
DTC is well recognised internationally having won the “Great Organisations Culture” award in 2022 and the “Digital Transformation and Innovation (Solution of the Year)” from Seamless Middle East in 2022, the “Best application of technologies in the field of logistics services” awarded by Future Enterprise Awards as well as the Prestige Award for “Taxi Company of the Year – UAE”

Leading ESG partner with strong focus on urban sustainability

The tenets of ESG and urban sustainability, in alignment with Dubai and the larger UAE's mobility vision and Dubai's sustainability goals, are central to DTC's vision.
Since the launch of its hybrid car programme in 2007, DTC has targeted green mobility. As of 30 June 2023, DTC has the largest fleet of environmentally friendly vehicles in Dubai of which approximately 80% of its taxis are hybrid and approximately 77% of its limousines are hybrid or electric.
DTC has an agreement with KIA to contribute to the specifications of KIA's 100% electric purpose-built vehicle.
DTC is also the sole taxi franchise allowed to operate the people of determination services.
DTC targets to reach 100% hybrid or electric taxis by the end of 2024 which is three years ahead of the RTA's target of 2027.

Robust financials demonstrating profitability and cash flow strength

For the year ended 31 December 2022, total revenue grew 31.4% compared to the prior year, and for the six months ended 30 June 2023 revenue was up 10.7% compared to 2022.
DTC continues to expand its business operations while managing its cost structure.
For the six months ended 30 June 2023, EBITDA Margin grew to 25.4% compared to 17.8% in the prior period.
Net Income Margin for the Company was 19.5% for the six months ended 30 June 2023.
DTC achieved a strong Free Cash Flow of AED 95.4 million for the six months ended 30 June 2023, despite higher capital expenditure over the last 18 months resulting from delays caused by the Covid-19 pandemic.
The Company delivers attractive shareholder returns with a favourable ROCE, which was 50.9% as at the year ended 31 December 2022.

Well positioned to benefit from additional growth levers

With the flexibility afforded by its operations and robust financial performance, DTC is well positioned to drive its future growth as it invests in expansion through the following strategies:
- Consistently improving operational efficiency by increasing fleet utilisation and the average number of trips per day
- Capitalizing on the growth of e-hailing penetration
- Scaling-up other verticals
- Expanding the taxi fleet with RTA licenses to be in line with DTC's current market share
- Ongoing investment in digital capabilities
- Introduction of surge pricing customer tariffs for taxis (where approved by the RTA) and limousine trips during peak demand times
- Expanding operations beyond Dubai
- Potential inorganic expansion opportunities

Our Leadership

DTC’s rapid growth has been driven by clear strategic planning and led by an expert management team.

Abdul Muhsen Ibrahim Kalbat

Chair

Abdul Muhsen Ibrahim Kalbat has more than 30 years of senior leadership experience in the public sector. He has been a prominent member of the RTA’s Board of Executive Directors from its inception in 2005. He has played an active role in the establishment of the RTA through the development of robust and effective governance, operational and cross-functional frameworks, and strong business organisational structure. He implemented creative management concepts and innovative approaches to enhance administrative and technical processes at RTA, transforming it from an authority focused on routine daily operations into a highly efficient and strategic authority.
From 2005 to 2015, Mr. Kalbat served as the CEO of the Strategy and Corporate Governance Sector at RTA. In his role, he was responsible for shaping and steering RTA’s strategic direction towards fully integrated transportation solutions in support of Dubai’s long-term strategic development plan and vision. In 2011, he received a medal of honour from His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, in recognition of his valuable contributions to RTA’s excellence and government work.
Mr. Kalbat has been the CEO of the Rail Agency at RTA since 2015. During this period, he has been actively focusing his efforts on improving operational efficiency, maximising revenue generation and minimising expenditure. In addition to his determination to expand, enhance and develop Dubai’s railway network, and to make effective and optimal use of the budget through the public-private partnership scheme. He has also accomplished significant cost-saving measures of more than AED 25 billion in development and operational costs. In his role at the Rail Agency, he oversaw various significant and prestigious projects, notably the AED 10.6 billion Route 2020 project. Since 2021, he has been the Vice-Chairman of RTA’s Board of Executive Directors, and since 2022, he has also served as the Vice-Chairman of the Board at Salik Company P.J.S.C.
He received his Bachelor of Science in Computer Science from the United Arab Emirates University, Al Ain and is a graduate of the Mohammed Bin Rashid Executive Leadership Development Program.

Abdul Muhsen Ibrahim Kalbat

Chair

Ahmed Ali Al Kaabi

Vice-Chair

Ahmed Ali Al Kaabi has more than 20 years of experience during which he held prestigious positions in the public sector. Since 2015, he has been serving as the Executive Director of Finance at the RTA, where he supervises the financial aspects of all sectors and agencies. His duties involve developing financial strategies, legislation, and policies to manage and control various financial aspects. This encompasses implementing government directives and establishing new companies. Mr. Al Kaabi joined RTA in 2005 as the General Budget Manager. He subsequently held the positions of Deputy Director and Senior Budget Manager from 2007 to 2009, and then served as the Director of Finance from 2009 to 2015. He supported RTA’s strategic plans by charting out financial plans to achieve its accomplishments. He chaired several key committees at RTA including the Committee for Cost Rationalisation and Revenue Generation, the Executive Committee for Investment, the Committee for Monitoring the Collection of RTA’s Dues, the Committee for Reviewing Variation Orders in RTA’s Contracts, the Innovation Fund Management Committee, and the Financial Resources Standard Committee. He was involved in several key committees and teams at the RTA level, including the Budgets Preparation Committee, the Board of Executive Directors, and the Emergency and Crisis Management Team, among others. Additionally, he participated in committees at the Dubai Government level, including the Consultative Committee for Government Resource Planning Systems.
Mr. Al Kaabi served as the Costing and Budget Accountant for Dubai Municipality’s Roads and Projects Department from 2000 to 2002, before being appointed as Head of Cost and Financial Analysis Unit from 2002 to 2005. Throughout his career, Mr. Al Kaabi has achieved significant milestones, such as receiving the Dubai Government Excellence Award in Resources and Property Standard in 2017. He also played a mentoring role in the Model Programme for Developing the Skills of RTA’s Young Leaders. Mr. Al Kaabi received a Higher Diploma in Accounting from the Higher Colleges of Technology of Dubai in 2000.

Shehab Hamad Abdullah Hamad Bu Shehab

Director

Essa Abdulla Khamis Bin Natoof Al Falasi

Director

Dr. Hanan Sulaiman Mohamed Khalifa Al Suwaidi

Director

Yousuf Ahmad Ali Saeed Bin Ghulaita Almheiri

Director

Abdulla Mohammed Abdulla Bin Damithan Al Qemzi

Director

Mansoor Rahma Alfalasi

CEO

Mansoor Rahma Juma Abdulla Alfalasi is a highly experienced professional with nearly 20 years of experience in business management within the mobility sector as part of the regulatory body at the RTA, and has been serving as DTC's Chief Executive Officer since 2020. Since he joined DTC in 2020, he has been focusing on managing the direction and implementation of DTC's strategy by leading a team of nearly 2,500 employees and 13,500 drivers and taking on the responsibility of supervising the annual budget of DTC, which amounts to approximately AED 1.4 billion. Mr. Alfalasi also plays a crucial role at DTC in overseeing and managing the full spectrum of daily activities, including operations, sales and marketing, business development, budgeting and financial reporting, and compliance with all UAE federal regulations and policies as well as RTA’s policies and procedures.
Mr. Alfalasi occupied several director-level roles at RTA between 2014 and 2020, including Director of Drivers Licensing, Director of Human Resources and Development, Director of Marine, and Director of Administration Services. While at RTA, his main responsibilities involved overseeing driver licensing operations, formulating testing policies and procedures, developing strategic plans, and leading various project management teams to supervise all corporate initiatives relating to employees' wellbeing. Before his tenure at RTA, Alfalasi held the position of Director of Support and Resources at DTC from 2011 to 2014, where he also took on the role of Acting Chief Executive Officer for four months. Additionally, he was the Director of Drivers Affairs at the Public Transport Agency from 2009 to 2011 and served as the Manager of the Research and Studies Section at the Marine Transport Agency from 2005 to 2008.
Additionally, Mr. Alfalasi has been the Chairman of the Board of Directors at Al Nasr Sports Club Investment Company since 2021 and is also a Board Member on Al Nasr Sports Club’s Board of Directors.
He received a Higher National Diploma in Construction in 1999 and a Bachelor in Construction Engineering in 2004 from Dubai's Men's Campus - Higher Colleges of Technology and completed the Mohammed Bin Rashid Program for Leadership Development in 2017. Mr. Alfalasi also attended courses and obtained certifications from Harvard Business School on Leading with Finance and Organizational Leadership and specialised in Strategy and Global Business.

Amit Khandelwal

CFO

Offering Timetable

13 November 2023

ITF and Publication of the UAE Prospectus

21 November 2023

Price range announcement and subscriptions open

28 November 2023

Retail (First Tranche) subscriptions close

29 November 2023

Institutional book-building (Second Tranche) closes

30 November 2023

Final offer price announcement

05 December 2023

SMS confirmation of allocation and commencement of refunds (First Tranche)

07 December 2023

Expected Listing Date on DFM

Download Center

Offering documents

UAE Prospectus

Public Announcement of the Offer

International Offering Memorandum

Public Announcement of the Price Range and Subscription Open

Announcements

Intention to Float Announcement

Price Range Announcement

Increase in Retail Investor Offer Size Announcement

Final Offer Price Announcement

How to Subscribe

FAQs

What is DTC?

DTC is a leading provider of comprehensive mobility solutions in Dubai. With an approximately 44% market share (by size of taxi fleet) as at 30 June 2023, it is currently the number one taxi operator in Dubai. Having been established as a taxi company in 1994, with operations starting in 1995 with a fleet of 221 taxi vehicles, the Company has since expanded to other mobility businesses by leveraging its dominant leadership in the taxi sector and operational strength. DTC offers an extensive range of transportation solutions across its four key business lines, including taxi services through its large taxi fleet; VIP limousine services made up of chauffeur-driven vehicles for luxury service; its bus services; and its last mile delivery bike services. DTC is also a leading sustainability champion with majority of its taxis and limousine fleet being eco-friendly: 80% and 77% of its taxis and VIP limousines fleet are whether hybrid or electric, respectively. Between 1 July 2022 and 30 June 2023, the Company's taxis and limousines made 44 million trips, 42 million of which were taxi trips. Across its business lines, as at 30 June 2023, the Company operated more than 7,000 vehicles (of which 5,216 were taxis) and managed a workforce of more than 14,000 driver partners.

How is DTC positioned in the UAE’s mobility sector?

DTC is the largest taxi operator in Dubai, with a dominant market share of approximately 44% of total taxis as at 30 June 2023 (and providing 44% of total revenue kilometres travelled by taxi and approximately 39% of taxi trips as at 31 May 2023), making it twice as large as the next largest taxi operator. DTC has longer trips on average resulting in increased revenue per trip compared to other taxi franchises. Further supporting DTC's market position is its ability to win key commercial contracts on an exclusive basis and at prime sought-after locations. DTC is the sole taxi franchise to provide its pick-up services from the Dubai Airports from which it also provides limousine services. DTC also provides limousine services on an exclusive pick-up basis from landmark points of interest in Dubai, typically located in high density areas. DTC believes it is the preferred partner for vehicle launches, prototype tests and bespoke car designs in Dubai, underscoring its critical role in Dubai's growing mobility sector. DTC's scale has allowed the creation of its own operating control centre ("OCC") with in-house analytics (including predictive analysis through heatmaps) that enables the Company to dispatch vehicles, monitor live traffic and congestion, and allocate drivers accordingly.

What are DTC’s core geographic markets?

Currently, the Company mainly operates in Dubai with plans to expand geographically within the UAE. In addition to offering its services in Dubai, DTC currently has a presence in Ras Al Khaimah where its limousine services operates and in Abu Dhabi, Alain, Al Dhafra region where it operates commercial buses and in Dubai, Ras Al Khaimah and Ajman where its school bus services operate.

What is the current competitive landscape in DTC’s sector and market?

Further supporting DTC's market position is its ability to win key commercial contracts on an exclusive basis and at prime sought-after locations. DTC is the sole taxi franchise to provide its pick-up services from the Dubai Airports from which it also provides limousine services. DTC is also the exclusive provider of taxi and limousine services at a number of other high-volume locations.

The Company's taxi services have a number of key competitors. It competes against four other Dubai-based taxi companies for customers, and for additional taxi licence plates needed to grow its business.

How has DTC been performing financially?

DTC has a robust financial model which generates both strong profitability and cash flow, underpinned by positive macro headwinds.

The Company generated revenue of AED 1,272 million in 9M 2022 and AED 1,414 million in the nine months ended 30 September 2023. Its EBITDA was AED 204 million and AED 361 million in 9M 2022 and in the nine months ended 30 September 2023, respectively, with its EBITDA Margin growing from 16% to 26% during this same period mainly driven by higher operating leverage and improved unit economics.

What is DTC’s growth strategy?

DTC has developed a well-defined growth strategy that is focused on capitalising on its strengths:

Organic growth across business lines
The favourable macroeconomic conditions and fundamentals of operating in Dubai translates into unique growth avenues for DTC across each of its business lines. As such, a core aspect of DTC's growth strategy focuses on expanding its fleet while relying on the underlying market demand and growth of the Dubai city area.
Investment in digital capabilities and operational excellence
The digitization of the mobility services industry is a clear trend in which the Company will continue to strategically invest in to boost its operational excellence. As part of its strategy, DTC relies on its strong e-hailing platform, valuable partnerships in the industry and targeted technology investments to improve its margins, grow its market share, optimize its technical and operational efficiency, increase automation in its operations leading to increased asset utilization and increase customer and driver satisfaction.
Expansion beyond Dubai and through organic and inorganic growth
In addition to offering its services in Dubai, DTC monitors growth opportunities to expand into the broader UAE and supports this potential with well-defined organic and inorganic growth strategies. The Company currently has a presence in Ras Al Khaimah where its limousine services operates and in Ajman where its bus services operate.

Why should I invest in DTC’s IPO?

You will need to discuss this with your investment / financial advisor.

Having said that, DTC believes it has several competitive strengths that make it a compelling investment story, which are described in greater detail in the Prospectus document, available on this site (https://www.dubaitaxi.ae/en/ipo/).

Key Strengths:

Operating in an attractive market with strong macro tailwinds.
Largest taxi operator in Dubai with a dominant market share.
Favourable taxi regulatory framework, creating high barriers to entry.
Leading comprehensive UAE mobility company with focused workforce management.
Integrated business model, leveraging superior technology solutions.
Seasoned senior managers and a wider management with strong execution capabilities.
Leading ESG partner with strong focus on urban sustainability.
Robust financials demonstrating profitability, cash flow and return on capital employed strengths.
Well positioned to benefit from additional growth levers.

For further information and before making any investment decision, please read the Prospectus found on this page, including the “Investment Risks” section.

What will the dividend policy be?

The Company intends to pay dividends twice each year after the Offering in April and October of each year. A first dividend of at least AED 71 million for the fourth quarter of 2023 is expected to be distributed in April 2024. For fiscal year 2024 and the years thereafter, the Company expects to pay at least 85% of the annual net profit for the year available for distribution as dividend. This dividend policy is subject to consideration by the Board of the cash management requirements of the Company's business for operating expenses, finance costs, and anticipated capital expenditures and investments. In addition, the Company expects that the Board will also consider market conditions, the then current operating environment in the Company's markets, and the Board's outlook for the Company's business and growth opportunities.

Who will be able to buy shares in DTC?

There are two broad groups of eligible investors:

Individuals with a valid DFM NIN and bank account number
Professional investors outside of the US

Please note that any and every subscriber must hold a Dubai Financial Market Investor Number (NIN) and a bank account number in order to be eligible to apply for Offer shares, irrespective of the tranche they subscribe through. For more information, please refer to the Prospectus on this webpage (https://www.dubaitaxi.ae/en/ipo/).

When is the subscription period?

Subscriptions will open on 21 November 2023, with retail subscriptions closing on 28 November 2023, and Professional Investor subscriptions closing on 29 November 2023. The final offer price announcement is expected to be made on 30 November 2023.

Receiving Banks

Website

Phone:

800 3623 476

Website

Phone:

04 316 0066

Website

Email:

ADIBIPOCenter@adib.com

Phone:

02 652 0878

Website

Phone:

800 22

Website

Phone:

04 212 1156

Website

Phone:

04 609 2222

Website

Phone:

02 616 1800

Website

Email:

ipo@mashreq.com

Phone:

04 424 4457

Contact

Dubai Taxi Company PJSC Registered Office

Amman Street
Al Muhaisnah
Dubai, United Arab Emirates
800 88088

Call Center

Emirates NBD Bank PJSC
800 ENBD IPO (3623 476)

Investor Relations Enquiries

Aravind Manoharan
Investor Relations
ir@dtc.gov.ae

Media Enquiries

Stephen Smith
Senior Vice President – Teneo
Stephen.smith@teneo.com
+971 585 461 588

DTC Smart App

Limousine

Ameera Limousine

Airport Taxi

Taxi

Limousine Rental

School Bus Transport

Commercial Buses

In Safe Hands

Ladies & Family Taxi

People of Determination Taxi

DTC MY DRIVER

Welcome to the IPO of DTC

Chairman's Message

Abdul Muhsen Ibrahim Kalbat

What Do We Do?

Taxis

VIP Limousines

Bus Services

Delivery Bikes

DTC in Numbers

#

1

~

44

%

400

k

42

million

7000

+

14000

+

AED ~

1.8

billion

AED ~

1.4

billion

~

25.5

%

Investment Highlights

Our Leadership

Abdul Muhsen Ibrahim Kalbat

Abdul Muhsen Ibrahim Kalbat

Chair

Ahmed Ali Al Kaabi

Vice-Chair

Shehab Hamad Abdullah Hamad Bu Shehab

Director

Essa Abdulla Khamis Bin Natoof Al Falasi

Director

Dr. Hanan Sulaiman Mohamed Khalifa Al Suwaidi

Director

Yousuf Ahmad Ali Saeed Bin Ghulaita Almheiri

Director

Abdulla Mohammed Abdulla Bin Damithan Al Qemzi

Director

Mansoor Rahma Alfalasi

CEO

Amit Khandelwal

CFO

Offering Timetable

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How to Subscribe

To subscribe to the DTC IPO please follow the below steps. More detailed information can be found in the Prospectus.

1

Make sure you have your DFM National Investor Number (NIN) and a bank account.

2

Review the content and documents on this IPO webpage for more information about the Company and its IPO.

3

If you would like to invest, subscribe to the offering through one of the Receiving Banks.

4

You will be notified of the number of shares allocated to you.

FAQs

Receiving Banks

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