Dear Customer,
Ajman Bank as the receiving bank presents you with the opportunity to subscribe to the Dubai Taxi Company (DTC) UAE Public Offering (IPO) on the Dubai Financial Market ("DFM").
Subscriptions will open on 21 November 2023

The leading provider of comprehensive mobility solutions in Dubai, serving one of the world's fastest-growing cities.

7,000+ vehicles

14,000+ Driver Partners

5,200+ Taxis

-400 VIP Limousines

-1000 Buses

-600 Delivery Bikes

*As at 30 June 2023

Key facts about DTC

Established in 1994, DTC is Dubai's flagship mobility Company, serving residents and tourists and actively participating in Dubai's transportation transformation.

Largest taxi operator in Dubai, with a dominant market share of approximately 44% of total taxis.

Diversified operations across four business lines: taxis, VIP limousines, buses and delivery bikes, managing an overall fleet of more than 7,000 vehicles.

DTC taxi business operates under a regulated framework established by the RTA with strict license issuance, fares protection and other high-barriers to entry.

Exclusive operating rights at key pick-up points with high volumes across Dubai's prime locations, including Dubai Airports, Atlantis and Dubai Mall.

Superior technology solutions through its DTC app and its partnership with Hala, positioning DTC to capitalize on the growing penetration of e-hailing.

Superior 9M23 financials with c.11% revenue growth, c.25% EBITDA margin and c.19% net income margin.

Robust financial performance with strong profitability and cash flow enabling DTC to target an attractive dividend payout ratio.

Leading ESG partner with a clear target to reach 100% hybrid or electric taxis and limousines by the end of 2024 (currently at 80%).

*As at 30 June 2023

Important Dates to Remember

ITF Announcement and Publication of UAE prospectus: 13 November 2023
Price Range Announcement and Subscriptions Open: 21 November 2023
Retail Subscriptions Close: 28 November 2023
Announcement of Final Offer Price: 30 November 2023
SMS Confirmations and Commencement of Refunds: 5 December 2023
Expected listing of shares on Dubai Financial Market (DFM): 7 December 2023

Contact details:

For more information, visit or call 80022
or register online AJMAN BANK

If you wish to apply for leverage, please subscribe early to ensure adequate processing time

To learn more about the IPO, visit DTC's dedicated IPO microsite -