Page 109 - AAE GENERAL REPORT - March 2024
P. 109

EFG Hermes Completes Advisory


               on USD 428.7 Million IPO of Parkin


               on the DFM






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               EFG Hermes Completes Advisory on USD 428.7 Million

               IPO of Parkin on the DFM The IPO set a record for the
               most subscribed offering on the Dubai Financial Market,

               with an overall subscription of appr…

               EFG Hermes Completes Advisory on USD 428.7 Million IPO of Parkin on

               the DFM


               The IPO set a record for the most subscribed offering on the Dubai Financial

               Market, with an overall subscription of approximately 165 times.


               Dubai, March 21, 2024



               EFG Hermes, an EFG Holding Company and the leading investment bank in
               the Middle East and North Africa (MENA), announced today that its

               investment banking division successfully completed its advisory on the USD
               428.7 million initial public offering (IPO) of Parkin, the largest provider of paid

               parking facilities and services in Dubai, on the Dubai Financial Market (DFM).

               EFG Hermes acted as a Joint Bookrunner on the transaction.


               Parkin offered a total of 24.99% of its total issued share capital through the

               sale of 749,700,000 existing shares at AED 2.10 per share, implying a market
               capitalization of AED 6.30 billion (USD 1.72 billion).



               https://www.iheartemirates.com/news/efg-hermes-completes-advisory-on-usd-428-7-million-ipo-
               of-parkin-on-the-dfm
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