Dubai Investment to list DIP Holding shares in first DFM IPO this year
Dubai Investments , a Dubai-listed investment holding conglomerate, is selling a 20 per cent stake in its subsidiary DIP Holding in the first initial public offering this year in UAE. The deal will comprise the sale of 1.74 billion shares by existing shareholders in DIP Holding, the operator of the investment free zone in the emirate, the company said in a statement on Monday. The parent Dubai…
Dubai Investments, a Dubai-listed conglomerate, is set to list 1.74 billion shares of its subsidiary DIP Holding in the first initial public offering (IPO) of the year in the UAE. The parent company will retain 80% control over DIP Holdings, after selling a 20% stake to its existing shareholders. The shares will start trading on the Dubai Financial Market (DFM) on November 11.
The IPO comes after a period of dormancy in the UAE's IPO market, which has been affected by lower oil prices, geopolitical risks, and weaker performances of listed companies post-listing. The IPO market in the Middle East slowed down last year, with UAE companies raising a total of $1.1 billion from 61 listings in 2024. The US war with Iran has further disrupted the market, as companies delay their plans to tap into the equity market for capital.
Dubai Investments, which has a stake in the sovereign investment fund Investment Corporation of Dubai, had expressed intentions to list shares before the war-driven uncertainties derailed deal volumes. Dubai Investment Park, where DIP Holding operates, is a 1,000 tenant, 5,700 subtenant, and over 150,000 resident mixed-use development near Al Maktoum International Airport and Jebel Ali Port.
Written by urgent.news from The National UAE's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
