The initial public offering (IPO) of Dubai Parks and Resorts has been covered by more than 30 times the AED 2.5 billion issuance, which represents 40% of the capital amounting to AED 6.3 billion.
Receiving banks for Dubai Parks’ IPO received intense demands from local institutions in the UAE, Al Khaleej reported, adding that banks also received strong demand from foreign markets particularly those of Saudi Arabia and the United Kingdom. Dubai Parks has already collected more than AED 75 billion.
It is likely that the Emirates Investment Authority (EIA) will subscribe by around five percent as set forth in the IPO prospectus prior to the closing date slated for November 27 for the second tranche and for November 30 for the first tranche, which is allocated to UAE individual and institutional investors. Banking sources told the newspaper that they expect demand to double during the final days of the IPO.
The prospectus has set December 10 as the date of listing on the Dubai Financial Market (DFM). Trading on the stock will be done electronically.
Receiving banks for Dubai Parks’ IPO received intense demands from local institutions in the UAE, Al Khaleej reported, adding that banks also received strong demand from foreign markets particularly those of Saudi Arabia and the United Kingdom. Dubai Parks has already collected more than AED 75 billion.
It is likely that the Emirates Investment Authority (EIA) will subscribe by around five percent as set forth in the IPO prospectus prior to the closing date slated for November 27 for the second tranche and for November 30 for the first tranche, which is allocated to UAE individual and institutional investors. Banking sources told the newspaper that they expect demand to double during the final days of the IPO.
The prospectus has set December 10 as the date of listing on the Dubai Financial Market (DFM). Trading on the stock will be done electronically.
Source:
Mubasher Exclusive
