Six Flags Theme Park – Dubai

On 18 April 2016 Dh1.68 billion rights issue will be the main topic in shareholders for Dubai parks and resorts, If it’s approved, It will part-finance the development of a high-profile 6 Flags themed destination. It’s proposed by The Board of Directors. The company will allow an extra 1.678 M shares at Dh1 each in the proposal.

Six Flags Theme Park

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Shareholders will also allow the Board to control the timing of the suggested issue. If approved, the Board have a year’s window from the date of the general convention to decide on the start of the rights issue. It is also a subject relate to the Securities and Commodities Authority. Last year in Dec 2014 that Dubai Parks had an extremely successful Dh2.5 billion flotation on Dubai Financial Market.

Six Flags Theme Park

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The total financing requires for the 6 Flags project is approximated at Dh2.6 billion, with an extra Dh65 m being raised to cover new business development and issue amount. The total capital of Dh2.67 billion will be financed through a debt basic of Dh993 million and the persisting by way of the proposed rights issue.

Six Flags Theme Park

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The approval from the shareholders is a foregone settlement; According to industry sources, as it would see Dubai Parks embark on its 2nd huge canvas project after the three theme parks. It is constructing in Jebel Ali. It is anticipated for opening in October 2016 and estimated to generate Dh2-billion-plus in the first full year of operations.

It will be an interesting issue to know; how the debt portion which is Dh993 million will be funded. Banks, local and regional, would have an adequate appetite.

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