DIP Holding sets IPO price at Dh1.12, raising Dh1.9 billion
Dubai: DIP Holding has priced its initial public offering at Dh1.12 per share, raising about Dh1.9 billion in the UAE’s first IPO of 2026. Shares are expected to start trading on the Dubai Financial Market on November 11. Subscriptions closed on November 3, and the company announced the final price on November 4. Local, regional and international investors covered the offer several times across…
Dubai Investments PJSC has priced its 80% stake in DIP Holding at Dh1.12 per share in a Dh1.9 billion initial public offering (IPO) that marks the UAE's first IPO of 2026. Shares will begin trading on the Dubai Financial Market (DFM) on November 11, with subscriptions closing on November 3 and the final price announced on November 4.
Local, regional and international investors participated in the offering several times, ultimately selling 1,735,243,300 shares to total 20% of Dubai Investments' stake after the sale. The IPO price values DIP Holding at Dh9.7 billion, falling within the Dh9.5 billion to Dh10 billion range previously indicated. The company expects to generate annualized dividends of Dh700 million in 2026, Dh725 million in 2027 and Dh750 million ($204 million) in 2028, with the first payout of Dh350 million ($95 million) occurring in April 2027.
DIP Holding's Chairman, Khalid Jassim Bin Kalban, hailed the strong market response as a milestone for Dubai's capital markets, while CEO Omar AlMesmar focused on the company's growth strategy. The Internal Shariah Supervision Committees of Emirates NBD and Dubai Islamic Bank confirmed the offering complies with Shariah principles, with Citi, Emirates NBD Capital and HSBC acting as joint global coordinators.
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