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oversubscribed 130 times, covered with over $41 billion of demand from

investors.

"Since Parkin is going to be the exclusive service provider to RTA, it will
enjoy a unique status of near zero competition. This IPO is expected to be
oversubscribed multiple times," Munshi said.

"Users can look forward to more technology-driven parking processes
whereby hassle of parking is reduced since Parkin will now solely

concentrate on improvement and enhancement of parking services," he
said.

Last year, the RTA raised $1 billion and drew orders of $50 billion for a 24.9
percent stake in a public share sale of its toll-road business Salik.

Dubai raised nearly $8.5 billion from five IPOs last year, fuelled by a

government privatisation plan to list 10 state-linked companies to boost
stock market activity.

Companies in the region raised $21.9 billion through IPOs last year, more
than half the total for the wider Europe, Middle East and Africa region,

Dealogic data shows.

muzaffarrizvi@khaleejtimes.com

https://www.khaleejtimes.com/business/markets/dubais-parkin-ipo-to-open-subscription-on-march-
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