News & updates

Dubai, UAE – 7 December 2023

Today marked a historic moment as IBRAHIM .N. PARTNERS proudly announces the successful bell ringing ceremony of Dubai Taxi Company (DTC) to signal the official listing and commencement of trading on the Dubai Financial Market (DFM). IBRAHIM .N. PARTNERS played a pivotal role as the Issuer’s legal counsel, solidifying its position as a leader in the capital markets arena.

The IPO of Dubai Taxi Company garnered unprecedented enthusiasm from both international and regional institutional investors, as well as retail investors in the UAE. The total demand for the offering surpassed Dh150 billion, reflecting an extraordinary oversubscription level of 130 times in aggregate. This achievement marks the highest oversubscription level ever recorded for an IPO on the DFM, underscoring the confidence and trust investors place in Dubai Taxi Company’s future prospects.

IBRAHIM .N. PARTNERS, as the Issuer’s legal counsel, navigated the complexities of this landmark transaction, contributing to its resounding success. This accomplishment is a testament to the firm’s unwavering commitment to delivering exceptional legal services and further solidifies its dominant position in the capital markets sphere.

“This bell ringing ceremony not only celebrates the listing of Dubai Taxi Company on the Dubai Financial Market but also signifies a remarkable achievement in the realm of capital markets,” said Ahmed Ibrahim, Managing Partner at IBRAHIM .N. PARTNERS. “We are honored to have played a key role in this milestone event, and it is a clear reflection of the Government of Dubai’s confidence in IBRAHIM .N. PARTNERS as a trusted legal advisor in their strategic initiative to list 10 companies on the DFM.”

This marks the fourth IPO out of five that IBRAHIM .N. PARTNERS has represented the Government of Dubai, showcasing the firm’s integral role in the government’s ambitious plan to elevate Dubai’s financial landscape.

For media inquiries, please contact:

M. Sadeq, Office Manager, IBRAHIM .N. PARTNERS. m.sadeq@inp.legal

About IBRAHIM .N. PARTNERS

IBRAHIM & PARTNERS is an independent MENA-region law firm based in the ADGM, Abu Dhabi, led by our Managing Partner, Ahmed Ibrahim, and is comprised of a team of lawyers that are experts in advising on all aspects of UAE law. We advise both local and international companies on a full range of issues from contentious and non-contentious corporate and commercial matters, including major project work, establishing, and conducting business across the Emirates, joint ventures, mergers and acquisitions, equity capital market, legal due diligence/audit, employment matters, property, structuring, distributions and franchise arrangements.