Parkin Co PJSC (Ticker: PARKIN UH) is a commercial services company based in the United Arab Emirates, focusing on the city's parking business. Parkin Co PJSC announced its IPO on February 27, 2024, aiming to raise AED 1.5744 billion (approximately USD 428.70 million) by offering 749.7 million shares. The IPO is set at a final price of AED 2.10 (USD 0.57) per share, placing the company's valuation at about USD 1.7 billion. The shares are offered entirely as secondary shares, with the Dubai Investment Fund selling a 25% stake in the company. The offering is managed by Abu Dhabi Commercial Bank, EFG-Hermes, Emirates NBD Capital Ltd, First Abu Dhabi Bank PJSC, Goldman Sachs International, and HSBC Bank Middle East.

Parkin's IPO, part of Dubai's privatization efforts, highlights the strong demand for Gulf listings, evidenced by the IPO being 165 times oversubscribed. The company plans to pay a minimum dividend of either 100% of profit or free cash flow to equity for the full 2024 fiscal year, whichever is higher. Shares will begin trading on the Dubai Financial Market (DFM) on March 21, 2024, marking it as the sixth privatization by the Dubai government in its plan to list 10 state-owned companies.