#Dubai transport authority seeks adviser for asset review -sources | Reuters

Dubai transport authority seeks adviser for asset review -sources | Reuters

Dubai's Roads and Transport Authority (RTA) has invited investment banks to pitch for an advisory role in a strategic review of its assets, said two sources close to the matter.

The transport regulator is seeking to evaluate various options for its assets, the sources said on Friday, declining to be named because the matter was not public.

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

Last week, sources told Reuters that the RTA was in the early stages of exploring options for its assets, including a possible initial public offering (IPO) of its taxi business.

One of the sources said the RTA was also looking at potential options for its public parking assets and the Nol card, the Dubai equivalent of London's Oyster card, used by passengers to pay for public transport across the emirate.

The RTA last year raised $1 billion and drew orders of $50 billion for a 24.9% stake in a public share sale of its toll-road business Salik (SALIK.DU).