DIP Holding Plc, a subsidiary of Dubai Investments PJSC, has opened subscription for its initial public offering on the Dubai Financial Market, with a price range of AED 1.10 to AED 1.15 per share.
The range implies a market capitalisation at listing of AED 9.5 billion to AED 10.0 billion. Dubai Investments, as the selling shareholder, is offering 1,735,243,300 existing shares, equal to 20 per cent of issued capital, for a total offering size of AED 1.9 billion to AED 2.0 billion. It will receive the proceeds and keep an 80 per cent stake after the offering.
Subscription began on October 27 and closes on November 3 for all four tranches. The final offer price is expected on November 4, with admission to trading on or around November 11, subject to market conditions and regulatory approvals.
DIP Holding expects to pay annualised cash dividends of AED 700 million for 2026, AED 725 million for 2027 and AED 750 million for 2028, distributed semi-annually. The first post-IPO payment of AED 350 million, covering the full second half of 2026, is expected in April 2027. Based on the 2027 dividend, the price range implies a yield of about 7.27 per cent to 7.60 per cent.
Both the company and the selling shareholder will be subject to a 180-day lock-up after admission. xCube LLC has been appointed stabilisation manager. The Internal Shariah Supervision Committees of Emirates NBD Bank and Dubai Islamic Bank have confirmed the offering is Shariah-compliant.
Citigroup Global Markets, Emirates NBD Capital and HSBC Bank Middle East are the Joint Global Coordinators.
News Source: Emirates News Agency
