Atik Munshi: IPO of Dubai parking operator spells lucrative investment opportunities

Dubai-based company Parkin, which showed its intentions to launch an initial public offering (IPO) recently, looks set to float 24.99 per cent or 749.7 million shares on the Dubai Financial Market, Khaleej Times reports.

The parking space operator will be the first company to launch an IPO in 2024 in Dubai. It will start subscriptions on March 5 and will continue until March 12 for retail investors and end on March 13 for institutional investors.

Atik Munshi, managing partner at FinExpertiza UAE, said that Parkin IPO is expected to attract retail investors looking to capitalise on investment opportunities in the market.

"With the increase in permanent and floating populations, there is always a dearth of parking spaces in Dubai, particularly in the commercial and business areas. With the launch of Parkin's IPO, investors can get a slice of the lucrative market, which has even better potential in the future," Atik Munshi told Khaleej Times.

"Since Parking is going to be the exclusive service provider to Dubai's Road and Transport Authority, it will enjoy a unique status of near zero competition. This IPO is expected to be oversubscribed multiple times," the expert concluded.

12 March 2024

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