Dubai Parks IPO already oversubscribed by 60 times | The National

Dubai Parks IPO already oversubscribed by 60 times | The National:



"Investing institutions have shown a big appetite for shares in the Dh2.5 billion initial public offering of Dubai Parks and Resorts, with bankers suggesting it was about 60 times oversubscribed at the close yesterday.



The share sale – which was fully subscribed within hours of opening this month – could generate even more investor demand, with the retail offering open until Sunday. One adviser, who did not want to be identified, said that the total final level of oversubscription could be more than 75 times.



That level of investor appetite would make Dubai Parks, being partially sold by the Dubai government-owned developer Meraas Holding, by far the most in-demand of the current batch of IPOs. Emaar Malls’ offering attracted 30 times oversubscription from institutions, and 20 times from retail."



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