Dubai: Dubai Parks and Resorts said on Thursday its qualified institutional tranche of the Dh2.5 billion Initial Public Offering has been oversubscribed, within four days from the start of the IPO, pointing to robust investor appetite.
“The Company has received expressed interest from a number of qualified investors to subscribe for shares which exceed the total number of shares allocated for the Qualified Institutional Tranche,” it said in a statement. The IPO subscription will run through November 30.
The company has put a total of 2.5 billion shares on offer or 40 per cent of the issued share capital at Dh1 each, bringing the total market capitalisation to Dh6.3 billion. The Qualified Institutional Offering comprises up to 60 per cent of the shares on offer, with a minimum subscription of 10,000,000 shares.
