Page 131 - AAE GENERAL REPORT - March 2024

3/25/24, 1:36 PM PRESSR: EFG Hermes completes advisory on $428.7mln IPO of Parkin on the DFM — TradingView News
PRESSR: EFG Hermes

completes advisory on

$428.7mln IPO of Parkin on

the DFM

Mar 21, 202410:10 GMT+4

First published: 21-Mar-2024 10:10:25

Dubai: 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).

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

most oversubscribed offering on the DFM, with an overall

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