DIP Holding IPO: Dubai Investments to sell 20% stake, applications start at Dh5,000
Dubai: Dubai Investments plans to sell a 20 per cent stake in DIP Holding through an initial public offering, giving investors the opportunity to buy shares in the company behind Dubai Investments Park’s ground rent and services business. Subscriptions will open on October 27 and close on November 3, according to the offering documents. The shares are expected to start trading on the Dubai…
Dubai Investments is preparing to sell a 20% stake in DIP Holding, the parent company behind Dubai Investments Park’s revenue-generating business, through an initial public offering (IPO). Subscriptions for the IPO will open on October 27 and close on November 3, with the shares expected to begin trading on the Dubai Financial Market on November 11. The sale comprises approximately 1.74 billion existing shares held by Dubai Investments, leaving them with an 80% stake in DIP Holding.
Individual investors may apply through the public subscription tranche, which requires a minimum investment of Dh5,000 in multiples of Dh1,000. The IPO offer will be divided into four categories: a public subscription tranche (5%), a second tranche (92%), a third tranche for Dubai Investments group employees (1%), and a fourth tranche for eligible shareholders (2%). The final offer price will be determined through bookbuilding based on subscription orders from second-tranche investors.
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