The IPO of Dubai Parks and Resorts Company, an affiliate of Meraas Holding Company, begins today, November 17th in Dubai Financial Market.
 

 The company is to sell 40% of its capital or 2528.73 m shares in an IPO at DH 1/share plus 1 Fils as IPO fees.


This is the fourth IPO in Dubai Market this year after the IPOs of Marka, Emaar Malls Group and Amanat Holding.


The IPO of Dubai Parks & Resorts includes four tranches as follows:

  • Competent Retail investors of all nationalities: 252.9m shares or 10% of IPO shares were allocated to this tranche.
  • Legal persons and high solvency individuals: 632.2m shares or 25% of IPO shares were allocated to this tranche.
  • Competent Investment Institutions: 1517.2m shares or 60% of IPO shares were allocated to this tranche.
  • Emirates Investment Authority is allowed to subscribe to the remaining 5% of the IPO shares otherwise its allocation will be transferred to retail investors in the first tranche.

The IPO will be held in the period from November 17th to November 27 for the third tranche and till November 30th for the remaining tranches.


IPO shares will be allocated on a Pro-rata basis for the first two tranches and on absolute estimate for the third tranche.

 

Company’s profile

Dubai Parks and Resorts

Company

Dubai Financial Market

Stock Market

Entertainment

Company’s sector

Under establishment

Company status

Dh 6.32 billion

New Capital

IPO details

2528.73 million

Number of IPO shares

Dh 1

Nominal value

Dh 1.01(Dh 1 per share + Dh 0.01 issuance fees)

Issuance price

Dh 2554.0 million

Issuance value
 

1s tranche: (252.9 mn shares) for Competent Retail investors.

subscribers
 

2nd tranche: (632.2mn shares) for legal persons and high solvency individuals
 

3rd tranche: (126.4 mn share) for Emirates Investment Authority.
 

4th tranche: (1517.2 mn shares) for qualified investment enterprises.

5000 shares for the 1st tranche

5 mn shares for 2nd section

10 mln for the 4th section

IPO minimum

Nov 20 until Nov 27 for enterprises, until Nov 30 for individuals.

IPO date

December 07, 2014

Allocation and surplus payment

Other details

-Emirate Financial Services Authority.

-Goldman Sachs International.

-HSBC Middle East.

Lead managers

Hermes Financial Group

Co-Lead manager

SHUAA Capital

Associate lead manager

Emirates NBD

Main IPO bank

Emirates NBD, Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, Emirates Islamic Bank, Finance House, Mashreq Bank, Noor Bank, Union National Bank.

Other IPO banks

Finance Company’s project in Dubai.

Use of IPO proceeds
 

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