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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 - زوﯾﻧ ﻲﺳ
position within it. Leveraging our robust sales capabilities, EFG Hermes
orchestrated a swift and comprehensive bookbuilding process, covering the entire
book within mere hours. As a key member of the syndicate, alongside two
international banks and four regional banks, our contribution was pivotal in
achieving this milestone. Our team’s expertise and dedication ensured that Parkin
stood out to investors as an attractive infrastructure play on Dubai’s promising
economic growth trajectory.”
Parkin is the largest provider of paid parking facilities and services in Dubai. The
company has the exclusive right to operate all paid public on-street parking, public
off-street parking, and public multi-story car parks in the Emirate. With a track
record spanning almost three decades, the Parkin team currently operates
approximately 197,000 paid parking spaces at strategic locations across Dubai,
providing a superior customer experience.
This transaction is the latest in a series of landmark deals the Firm has advised on
in the GCC region over the years, advising on eight IPOs in 2023 alone. This
included advisory on the IPO of Dubai Taxi Company on the Dubai Financial
Market (DFM) and OQ Gas Networks on the Muscat Stock Exchange (MSX), the
largest Omani IPO in over two decades. It also advised on the IPO of ADES
Holding Company on the Saudi Exchange, as well as the successful IPOs of
ADNOC L&S and ADNOC Gas Plc on the Abu Dhabi Securities Exchange (ADX);
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