Page 126 - AAE GENERAL REPORT - March 2024

3/25/24, 1:36 PM EFG Hermes completes advisory on $428.7mln IPO of Parkin on the DFM
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); IPO of Lumi Rental Company on the Saudi Exchange; Abraj

Energy Services on the MSX; and Al Ansari Financial Services PJSC on the Dubai
Financial Market (DFM).

About EFG Holding

EFG Holding (EGX: HRHO.CA – LSE: EFGD) is a trailblazing financial institution that
boasts a remarkable 40-year legacy of success in nine countries spanning three

continents. Operating within three distinct verticals — the Investment Bank (EFG

Hermes), Non-Bank Financial Institutions (NBFI) (EFG Finance), and Commercial Bank
(aiBANK) — the company provides a comprehensive range of groundbreaking financial

products and services tailored to meet the needs of a diverse clientele, including individual
clients and businesses of all sizes.

EFG Hermes, the leading investment bank in the Middle East and North Africa (MENA),

offers an extensive array of financial services, encompassing advisory, asset
management, securities brokerage, research, and private equity. In its domestic market,

EFG Holding serves as a universal bank, with EFG Finance emerging as the fastest-
growing NBFI platform, comprising Tanmeyah, a microfinance player, EFG Corp-

Solutions, which provides leasing and factoring services, Valu, a universal financial

technology powerhouse, PayTabs Egypt, a digital payment platform, as well as Bedaya for
mortgage finance and Kaf for insurance. Furthermore, the company delivers commercial

https://www.zawya.com/en/press-release/companies-news/efg-hermes-completes-advisory-on-4287mln-ipo-of-parkin-on-the-dfm-rr0s0kge 3/5