Page 120 - AAE GENERAL REPORT - March 2024

3/25/24, 1:46 PM EFG Hermes Completes Advisory on USD 428.7 Million IPO of Parkin on the DFM - زوﯾﻧ ﻲﺳ

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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