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HomeEconomyDubai parks IPO to list on Dec 10

Dubai parks IPO to list on Dec 10

dubai airportDubai Parks and Resorts expects to list on the Dubai Financial Market on Dec. 10 following the completion of its 2.5 billion dirham ($680.7 million) initial public offer, the company said on Wednesday.

The firm, part of Meraas Holding, sold 40 percent of its shares at 1 dirham per share. Of this, 40 percent was sold to individual investors and 60 percent to institutions.

The tranche open to retail investors was multiple times covered, the company said in Wednesday’s statement. It reported on Friday the institutional portion of the offering had also been well oversubscribed.

Dubai Parks and Resorts is developing an entertainment area in the emirate that will include theme parks and other attractions.