Dubai:DIP Holding Plc, a subsidiary of Dubai Investments PJSC, has announced the price range per share and the commencement of the subscription period for its initial public offering (IPO) on the Dubai Financial Market (DFM). The price range is set between AED1.10 and AED1.15 per share, which implies a market capitalization at listing of between AED9.5 billion (US$2.6 billion) and AED10.0 billion (US$2.7 billion).
According to Wam, the offering consists of 1,735,243,300 shares, representing 20 percent of DIP Holding's issued share capital. The total offering size is estimated to be between AED1.9 billion ($520 million) and AED2.0 billion ($543 million). Dubai Investments PJSC, as the selling shareholder, will receive all proceeds from the offering while retaining an 80 percent stake post-offering.
The offering's subscription period starts on 27th October 2026 and will close on 3rd November 2026 for all four tranches. The final offer price is expected to be announced on 4th November 2026, with the completion of the offering and the admission of ordinary shares to trading on the DFM anticipated around 11th November 2026, pending market conditions and regulatory approvals.
DIP Holding has outlined a dividend policy indicating expected annualized cash dividends of AED700 million, AED725 million, and AED750 million for the fiscal years ending 2026, 2027, and 2028, respectively. The company plans to pay dividends semi-annually, subject to various approvals and considerations.
The offering has been deemed compliant with Shariah principles by the Internal Shariah Supervision Committees of Emirates NBD Bank PJSC and Dubai Islamic Bank PJSC. Investors are encouraged to conduct their own due diligence regarding Shariah compliance.
Joint Global Coordinators for the offering include Citigroup Global Markets Limited, Emirates NBD Capital LLC, and HSBC Bank Middle East Limited, with several other institutions appointed as Joint Bookrunners and advisors. Emirates NBD Bank PJSC serves as the Lead Receiving Bank.