DUBAI, 4th November, 2026 (WAM) -- DIP Holding Plc, a subsidiary of Dubai Investments PJSC, on Wednesday announced that it has set the final offer price for its Initial Public Offering (IPO) on the Dubai Financial Market at AED1.12 per share, following the successful completion of the bookbuilding and subscription process on 3rd November 2026.
At the final offer price, the Offering has a total size of approximately AED1.9 billion (US$529 million) and implies a market capitalisation of approximately AED9.7 billion (US$2.6 billion) upon listing.
A total of 1,735,243,300 ordinary shares (Offer Shares), equivalent to 20 percent of DIP Holding's issued share capital, were offered by Dubai Investments.
All Offer Shares are existing shares being sold by Dubai Investments, which will receive the net proceeds from the Offering. Following completion of the Offering, the Selling Shareholder will retain an 80 percent stake in DIP Holding.
Khalid Jassim bin Kalban, Chairman of DIP Holding and Vice Chairman and Chief Executive Officer of Dubai Investments, said the strong demand from local, regional and international investors across the entire price range is a powerful endorsement of the business DIP has built: a mature, infrastructure-like platform underpinned by long-term tenant relationships, stable recurring income and clear opportunities for growth.
He added, “Importantly, the final offerprice reflects not only the strength of investor demand, but also Dubai Investments’ commitment to making this a compelling opportunity for new shareholders, with an attractive entry point and dividend yield, while laying the foundations for long-term success and value creation for all shareholders.”
Bin Kalban stated, “As the first IPO in the UAE this year, this is also a significant milestone for the Dubai Financial Market and the country’s capital markets. The strong response demonstrates the resilience and depth of Dubai’s capital markets and the confidence investors place in high-quality UAE businesses.”
Omar AlMesmar, Chief Executive Officer of DIP Holding, said, "We are pleased with the strong investor response and thank investors for their trust and look forward to welcoming them as shareholders alongside Dubai Investments. We enter this next chapter with a clear growth strategy, a strong track record and confidence in our ability to execute. Our priority remains delivering sustainable growth, strong cash generation and long-term returns for all shareholders."
Pursuant to the dividend policy set out in the UAE Prospectus, DIP Holding expects to pay annualised cash dividends of AED700 million, AED725 million and AED750 million in respect of the financial years ending 31st December 2026, 2027, and 2028, respectively.
The Company intends to distribute dividends on a semi-annual basis, subject to the Board of Directors' recommendation, shareholders' approval, and other applicable regulatory considerations.
The first post-IPO dividend distribution of AED350 million, relating to the full second half of 2026, is expected to be paid in April 2027. Accordingly, eligible shareholders will benefit from a dividend relating to the full second half of 2026, rather than only the period following Admission.
Based on the expected annualised dividend of AED725 million in respect of FY2027 and the final offer price of AED1.12 per share, the implied dividend yield is approximately 7.5 percent upon listing.
The Company subsequently expects to distribute AED362.5 million in October 2027, in respect of H1 2027, and AED362.5 million in April 2028, in respect of H2 2027. Thereafter, DIP Holding expects to distribute AED750 million in respect of FY2028, payable in two equal instalments of AED375 million in October 2028 and April 2029.
From 2029 onwards, DIP Holding expects to maintain annualised dividends in line with, or above, the FY2028 level.
The completion of the Offering and Admission are currently expected to be on 11th November 2026, subject to market conditions and obtaining relevant regulatory approvals in the UAE, including approval of Admission to listing and trading on the DFM.
Successful subscribers in the First Tranche, Third Tranche and Fourth Tranche are expected to be notified of their final allocation of Offer Shares via SMS on 10th November 2026, with refunds of surplus subscription amounts due to commence on the same date.