Page 24 - SALIK PR REPORT FEBRUARY 2024

2/27/24, 10:34 AM Dubai's Parkin IPO to open March 5 by offering 24.99% in UAE's first stock market float of 2024 | Markets – Gulf News

Another bumper year for UAE stocks?

Parkin thus sets an early marker for the UAE stock markets, after two exceptionally busy IPO runs through 2022 and 2023.
Last year had closed with back to back bumper responses, for Dubai Taxi and PureHealth in Abu Dhabi.

According to banker sources, retail investors had been preparing for the Parkin IPO ever since the company's
incorporation was announced early January. Be aim - get into Dubai's transportation linked service providers, whether

that's Salik, DTC and now, Parkin.

In this run, shareholders have been amply rewarded. Salik's stick is up 80 per cent since its listing September 2022, and

Dubai Taxi has gained 20 per cent since its debut December 6 last.

"Be strong earnings numbers of Parkin further buttresses investor expectations of long-term capital gains for RTA's
carve outs," said Sameer Lakhani, Managing Director at Global Capital Partners. "Investor interest is expected to be

strong. Whilst the IPO pricing has not been announced, comparable listed companies on Nasdaq like SP Plus Corp trades

at 30x, implying significant upside potential for Parkin given that valuations typically are priced at a discount to their

peers."

More to follow...

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