Parkin increases number of shares for retail investors in its IPO

Parkin' has increased its IPO shares for UAE retail investors due to high demand, with the new total at 89,964,000 shares, up from 74,970,000. 

The announcement was made following the approval of the Securities and Exchange Authority (SCA).

This adjustment raises the retail section to 12 per cent of the offer, valued between AED 179.93 million and AED 188.92 million, while the qualified investor section decreases to 88 per cent.

The overall offering size of 749,700,000 shares remains the same.

Subscription for the UAE retail closed on March 12, and for qualified investors on March 13.

Parkin will list on the DFM on March 21.