Page 121 - 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

The IPO captured the attention of investors, setting a record as the most

oversubscribed offering on the DFM, with an overall subscription of approximately

165 times. EFG Hermes alone covered the book 44.3 times. Recognizing the

overwhelming demand from retail investors, the company responded by
augmenting the retail tranche by around 20% during the final stages of

bookbuilding.

Karim Galal, Managing Director of Investment Banking at EFG Hermes, an EFG

Holding company, commented, “The resounding success of Parkin’s IPO as the

most ever oversubscribed offering on the DFM underscores the unwavering

confidence investors have in Dubai’s burgeoning market and Parkin’s strong

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