By the end of Thursday, Parkin’s share price soared to Dhs2.84, putting the company’s market capitalisation at Dhs8.5bn
Dubai Investment Fund sold 749,700,000 shares, equivalent to 24.99 per cent of Parkin’s paid-up capital
The emirate’s continued listing activity is being driven by the implementation of various initiatives such as the IPO accelerator programme
The company will offer around 25 per cent stake, in the emirate’s first privatisation deal this year, giving it an overall valuation of up to Dhs6.3bn
Parkin — spun out of the Dubai Roads and Transport Authority (RTA) late last year — is set to float 24.99 per cent of its shares