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3/25/24, 1:46 PM EFG Hermes Completes Advisory on USD 428.7 Million IPO of Parkin on the DFM - fintechgate
EFG Hermes Completes Advisory On USD 428.7 Million IPO Of
Parkin On The DFM
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ﺔﻄﺳاﻮﺑ Fintech Gate 2024 ,21 سرﺎﻣ ﻲﻓ
كرﺎﺷ
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).
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