Page 132 - AAE GENERAL REPORT - March 2024
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3/25/24, 1:36 PM            PRESSR: EFG Hermes completes advisory on $428.7mln IPO of Parkin on the DFM — TradingView News
        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 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.










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