Sovereign wealth funds from Qatar and Kuwait are among institutional investors that bought shares in the initial public offering of Dubai’s new theme park developer and operator.
Kuwait Investment Authority, Qatar Investment Authority, Gulf family offices and global institutional investors helped Dubai Parks & Resorts raise 2.53 billion dirhams ($690 million), the company said in a statement today.
The developer of a Legoland theme park near Dubai dropped by as much as 15 percent in the first day of trading after an initial public offering.
Dubai Parks & Resorts PJSC, which plans build a cluster of three theme parks between Dubai and Abu Dhabi, was down 9 percent at 0.91 dirhams at the close of trading, giving it a market value of 5.75 billion dirhams ($1.6 billion). The company raised 2.53 billion dirhams selling shares to finance the construction of the parks.
Companies without operating assets aren’t attractive to shareholders because they can’t return cash for years to come, Mohammed Ali Yasin, managing director of NBAD Securities LLC in Abu Dhabi, said today by phone. “Obviously it’s speculators who are trading,” he said.
Beware of these stocks. A Middle Eastern theme park investment is not safe. It's an untested market and there will be oversupply. You may lose a lot of money. If you want to make money instead, buy undervalued and established companies such as Gazprom and the like.
Mediocre ? What a funny guy you are...Don't post comments like that or else people will laugh at u...The theme park gonna be huge and it's just phase I..Phase II gonna include 6 flags and 1 anonymous theme park , which might be Universal studio...3 billions dollars is not a small number to build a mediocre theme parks
Weird. Investors rushing to invest in three mediocre theme parks in the making:
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.
Ride list is confidential, so they aren't going to release them anytime soon. However, they have stated in the media that the rides of Sony will be based on Smurf, Zombie land, Green Hornet, Ghost Buster, Underworld. Dreamworks will be the obvious, Madagascar, Kung Fu Panda, Shrek, etc... .
A map highlighting the various aspects of the Dreamworks segment within Motiongate, the Hollywood-styled theme park. With a capacity to host over 1,000 people, the completely indoor area will see the likes of the Smurfs, Shrek and Kungfu Panda.
La France holds a picture of Raj Mahal, the structure coming up behind him at the Bollywood theme park. Raj Mahal, an 800-seat theatre, will host live shows every evening and have a 150-member cast.