#Dubai's road authority weighs possible IPO of taxi business -sources | Reuters

Dubai's road authority weighs possible IPO of taxi business -sources | Reuters

Dubai's transport regulator is in the early stages of exploring strategic options for its assets, including a possible initial public offering of its taxi business, two sources familiar with the matter told Reuters.

The emirate's Roads and Transport Authority (RTA) plans to invite investment banks to pitch for advisory work which may include a possible assessment for Dubai Taxi Corporation, said the sources, who sought anonymity as the matter is not public.

However, no final decisions have been made in the deliberations, still at very early stages, with any transaction subject to market conditions, one of the sources said.

The RTA did not immediately respond to a Reuters request for comment on Wednesday.

Last year, the RTA raised $1 billion and drew orders of $50 billion from selling a 24.9% stake in the public-share sale of its toll-road business Salik (SALIK.DU).