Page 56 - SALIK PR REPORT - MARCH 2024

3/22/24, 10:13 AM On DFM, Parkin's stock off to 35% surge in first few minutes of trading | Markets – Gulf News
the retail tranche by around 20 per cent during the final stages of book-building," said

a statement issued by it.

INVESTORS PILE ONTO TRADING PLATFORMS FOR MORE PARKIN

UAE retail investors are using all possible stock trade platforms to pad up their

holdings of Parkin shares. So much so, some of these platforms are 'crashing' even as
investors make their bids.

Other investors are planning to bide their time before making their moves on the

stock, given the 20 per cent appreciation it has had on opening.

'Need to buy more'

"Parkin’s listing demonstrates the broadening and the confidence of the retail investor
community," said Sameer Lakhani, Managing Director of Global Capital

Partners. "While it is never advisable to focus on initial day 'pops', the sheer level of

demand for Parkin augurs well for both public and private sector IPOs, especially as
more capital market reforms are on the anvil in UAE."

Parkin, meanwhile, appointed xCube llc, as a liquidity provider for its shares. xCube

will continuously provide bids and offers for investors to be able trade these shares
with ease. "This will be achieved by reducing the bid-ask spread allowing for orderly

trading and reduced volatility on the shares," a statement said.

According to Mohamed Al Ali, CEO of Parkin, "This appointment (or

xCube)represents a significant stride towards further strengthening investor

confidence and enhancing our shares' trading environment."

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