Page 32 - SALIK PR REPORT FEBRUARY 2024

2/27/24, 10:36 AM Dubai's Parkin IPO To Open Subscription On March 5 | MENAFN.COM
The listing of the parking business follows the RTA's successful IPO of Dubai Taxi Company,
which attracted $330 million in November. It was 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.

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