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