Parkin Co. set the price of Dh2 to Dh2.10 per share for the initial public offering

Parkin Co., a Dubai-based business, decided on Tuesday to establish the price of Dh2 to Dh2.10 per share for the IPO. The business launched its initial public offering (IPO) on Tuesday to raise Dh1.57 billion, according to Bloomberg.

Retail investors' subscription for the IPO will end on March 12; institutional investors' subscription will close one day later. On March 21, the business hopes to launch its shares on the Dubai Financial Market.

Retailers will have the chance to purchase 10% of the shares in the float with the assurance that they would acquire up to 2,000 shares each. The principal bank to receive proceeds from the IPO is Emirates NBD Bank. 

For the retail tranche, the prospectus states that the minimum application size is Dh5,000, with subsequent increments of Dh1,000 each.