A new CEO has been appointed at Dubai’s road toll operator Salik PJSC ahead of its expected initial public offering (IPO).

Ibrahim Sultan Al Haddad was appointed at the company’s first board meeting, which was chaired by council chairman Mattar Al Tayer, director general of Dubai’s Roads and Transports Authority (RTA).

Al Haddad has served as the commercial and investment director at the RTA for the past nine years, Salik said in a statement today.

Salik was made a joint stock company last month, after it was announced last year that it would be one of 10 state-owned companies listed on the stock market to increase the size of the emirate’s financial market to AED 3 trillion ($816.8 billion).

(Reporting by Imogen Lillywhite; editing by Seban Scaria)