Filtering by: “Dubai”
Spinneys 1961 Holding PLC
May
9

Spinneys 1961 Holding PLC

Spinneys 1961 Holding PLC (Ticker: SPINNEYS UH) is a grocery retail supermarket operator based in Dubai. Spinneys will list on May 9 on the Dubai Financial Market. The firm is selling a total of 900 million shares, with 63 million allocated for the retail tranche and 837 million for professional investors. This is an adjustment from the initially planned 45 million for retail and 855 million for professional investors. The shares are priced between 1.42 and 1.53 dirhams, aiming to raise up to 1.37 billion dirhams (approximately USD 373 million).
The IPO is managed by EFG-Hermes as the Joint Lead Manager-Books, with Bank of America, Emirates NBD PJSC, and HSBC serving as Global Coordinators. The expected market capitalization and the total offer size in USD are not specified.

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Parkin Co PJSC
Mar
21

Parkin Co PJSC

Parkin Co PJSC (Ticker: PARKIN UH) is a commercial services company based in the United Arab Emirates, focusing on the city's parking business. Parkin Co PJSC announced its IPO on February 27, 2024, aiming to raise AED 1.5744 billion (approximately USD 428.70 million) by offering 749.7 million shares. The IPO is set at a final price of AED 2.10 (USD 0.57) per share, placing the company's valuation at about USD 1.7 billion. The shares are offered entirely as secondary shares, with the Dubai Investment Fund selling a 25% stake in the company. The offering is managed by Abu Dhabi Commercial Bank, EFG-Hermes, Emirates NBD Capital Ltd, First Abu Dhabi Bank PJSC, Goldman Sachs International, and HSBC Bank Middle East.
Parkin's IPO, part of Dubai's privatization efforts, highlights the strong demand for Gulf listings, evidenced by the IPO being 165 times oversubscribed. The company plans to pay a minimum dividend of either 100% of profit or free cash flow to equity for the full 2024 fiscal year, whichever is higher. Shares will begin trading on the Dubai Financial Market (DFM) on March 21, 2024, marking it as the sixth privatization by the Dubai government in its plan to list 10 state-owned companies.

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Dubai Taxi Co.
Dec
7

Dubai Taxi Co.

Dubai Taxi Co. (Ticker: Pending) is a transportation services company from Dubai, United Arab Emirates, known for being the city’s largest taxi operator with a 44% market share. This company will list on December 7 on the emirate’s exchange. The firm is selling 624.75 million shares at a price range of 1.8 dirhams to 1.85 dirhams each. The expected Market Capitalization at offer is 4.62 billion dirhams (USD 1.26 billion). The total offer size is approximately 1.16 billion dirhams (USD 315 million). The offering is managed by Citigroup Inc., Emirates NBD Capital, Bank of America Corp., with Rothschild & Co. acting as independent financial adviser.

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