AI Summary
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:
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.
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Company’s profile |
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Dubai Parks and Resorts |
Company |
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Dubai Financial Market |
Stock Market |
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Entertainment |
Company’s sector |
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Under establishment |
Company status |
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Dh 6.32 billion |
New Capital |
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IPO details |
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2528.73 million |
Number of IPO shares |
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Dh 1 |
Nominal value |
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Dh 1.01(Dh 1 per share + Dh 0.01 issuance fees) |
Issuance price |
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Dh 2554.0 million |
Issuance value |
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1s tranche: (252.9 mn shares) for Competent Retail investors. |
subscribers |
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2nd tranche: (632.2mn shares) for legal persons and high solvency individuals |
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3rd tranche: (126.4 mn share) for Emirates Investment Authority. |
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4th tranche: (1517.2 mn shares) for qualified investment enterprises. |
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5000 shares for the 1st tranche 5 mn shares for 2nd section 10 mln for the 4th section |
IPO minimum |
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Nov 20 until Nov 27 for enterprises, until Nov 30 for individuals. |
IPO date |
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December 07, 2014 |
Allocation and surplus payment |
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Other details |
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-Emirate Financial Services Authority. -Goldman Sachs International. -HSBC Middle East. |
Lead managers |
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Hermes Financial Group |
Co-Lead manager |
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SHUAA Capital |
Associate lead manager |
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Emirates NBD |
Main IPO bank |
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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 |
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Finance Company’s project in Dubai. |
Use of IPO proceeds |
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