Dubai Parks and Resorts Says To List On Dubai Bourse On Dec 10

Dubai Parks and Resorts expects to list on the Dubai Financial Market on December 10 following the completion of its Dhs2.5 billion ($680.7 million) initial public offer, the company said on Wednesday.

The firm, part of Meraas Holding which is owned by Dubai’s ruler Sheikh Mohammed bin Rashid al-Maktoum, sold 40 per cent of its shares at Dhs1 per share.

Of this, 40 per cent was sold to individual investors and 60 per cent to institutions.

The tranche open to retail investors was multiple times covered, the company said in Wednesday’s statement. It reported on Friday the institutional portion of the offering had also been well oversubscribed.

Dubai Parks and Resorts is developing an entertainment area in the emirate that will include theme parks and other attractions.