Dubai Parks and Resorts, a subsidiary of Meraas Holding, said it has secured Dh4.2 billion ($1.15 billion) funding to support its ambitious plan to create the Middle Eastís first mega leisure and entertainment destination in Dubai, UAE.
The syndicated financing facilities have been structured by Goldman Sachs, said a statement from Dubai Parks and Resorts.
The company had recently launched its initial public offering (IPO) on the Dubai Financial Market with a total offer size of approximately Dh2.5 billion ($684 million).
The offering, which comprises 2,528,731,083 ordinary shares, represents 40 per cent of Dubai Parks and Resortsí post-offer issued share capital. The shares are priced at Dh1 ($0.272) per share, plus Dh0.01 per share in offer costs.