Page 99 - SALIK PR REPORT - MARCH 2024

3/14/24, 12:19 PM Dubai IPOs raised $9.4bn in the past three years amid continued economic boom

Parkin is the latest company to seek a listing on the Dubai. Sarah Dea/The National
Parkin, the company set up by Dubai to oversee parking operations, is currently raising as
much as Dh1.57 billion from its public float on the Dubai bourse.

The company's IPO comes after Dubai in November 2021 announced plans to list 10 state-
owned companies, aiming to expand the size of its financial market to Dh3 trillion.

It also established a Dh2 billion market maker fund to encourage listings from private
companies in sectors such as energy, logistics and retail.

Five state-owned enterprises have been listed on the DFM since 2022 and more are likely to
list shares in addition to Parkin.

The listing of Dubai Electricity and Water Authority was the largest GCC IPO in 2022, raising
$6.1 billion when it listed 18 per cent of its share capital.

Tecom Group raised Dh1.7 billion in a 21 times oversubscribed deal.

Other companies that have listed shares on the DFM so far include Union Co-op, Salik,
Emirates Central Cooling Systems Corporation (Empower), Dubai Taxi, Taaleem Holdings and
Al Ansari Financial Services.
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Updated: March 13, 2024, 5:31 PM

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