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Both deals garnered strong demand from investors, books were oversubscribed multiple times.
A post-COVID economic rebound, neutral political stance, ease of doing business, convenient
time zones, and tax-free status have all contributed to Dubai attracting droves of wealthy
individuals in recent years.
The number of residents in the city jumped by 100,240, official statistics show, reaching 3.65
million people on at the end of last year, compared with 3.55 million people on Jan. 1, 2023.
Companies domiciled in the Gulf Cooperation Council raised $11.0 billion in IPO proceeds in
2023, down 45% from 2022. GCC IPOs accounted for 40% of proceeds raised in EMEA during
2023, down from 56% during 2022, LSEG data showed.
https://www.xm.com/research/markets/allNews/reuters/dubais-parkin-to-sell-2499-stake-in-ipo-
gulf-news-reports-53774957
