DIP Holding sets IPO price at AED 1.12/share; expects to raise $529mln
By Staff Writer
DIP Holding, a subsidiary of Dubai Investments, has set the final price for its IPO at 1.12 UAE dirhams per share ($0.30), just shy of the highest offer price from a marketed range of AED 1.10 ($0.29) to AED 1.15 ($0.31) per share.
The total size of the offering is AED 1.9 billion ($529 million), implying a market capitalisation of AED 9.7 billion ($2.6 billion) upon listing on the Dubai Financial Market (DFM).
The final offer price implies a dividend yield of approximately 7.5%, based on the expected annualised dividend of AED 725 million in respect of FY2027.
A total of 1,735,243,300 offer shares, equivalent to 20% of DIP Holding’s issued share capital, is being offered by Dubai Investments, which will continue to retain an 80% stake in the company following the completion of the offering.
As the first UAE IPO of 2026, Dubai Investments said the offering “attracted strong demand from local, regional and international investors, witnessing multiple times coverage across the previously announced price range”.
Citigroup Global Markets, Emirates NBD Capital, and HSBC are the mandated joint global coordinators. ADCB, Arqaam Capital, Dubai Islamic Bank, and EFG Hermes are the joint bookrunners. Emirates NBD Capital is also the listing advisor and the lead receiving bank. Other receiving banks include ADCB, Abu Dhabi Islamic Bank, Dubai Islamic Bank, Emirates Islamic, First Abu Dhabi Bank and Wio Bank.
The final allocation of shares to individual subscribers (first tranche), eligible Dubai Investments group employees (third tranche) and eligible Dubai Investments shareholders (fourth tranche) is expected on 10 November 2026, with refunds due to commence on the same date.
Admission of ordinary shares for trading on the is expected to be on 11 November 2026.
DIP Holding is a DIFC-incorporated public company and the sole shareholder of Dubai Investments Park Development Company (DIPDC), which operates Dubai Investments Park (DIP), a 23 million sqm infrastructure-like ground rent and services platform providing long-term infrastructure-enabled ground leases across logistics, industrial, residential and commercial uses.
(Writing by Bindu Rai, editing by Seban Scaria)