Palms Sports PJSC announced a private placement of 15,000,000 shares at an issue price of AED 13.33 per share for gross proceeds of AED 199,950,000 on September 18, 2023. The transaction will include participation from new investor, ICE Holding RSC LTD. The company's share capital will increase to AED 165,000,000 from AED150,000,000, from the issuance of new shares. The transaction is pending approval by the board of directors of the company, at a board meeting to be held on September 21, 2023.