DIP Holding, the DIFC-incorporated vehicle that owns Dubai Investments Park, has set its IPO price range at AED 1.10 to AED 1.15 per share ahead of a planned listing on the Dubai Financial Market on 11 November 2026.
The offering covers 1,735,243,300 shares, representing 20 per cent of DIP Holding’s issued share capital. All shares are being sold by Dubai Investments PJSC, which will retain an 80 per cent stake after completion.
The total offering size falls between AED 1.9 billion (US$ 520 million) and AED 2.0 billion (US$ 543 million), implying a market capitalisation at listing of between AED 9.5 billion (US$ 2.6 billion) and AED 10.0 billion (US$ 2.7 billion).
DIP Holding sits above Dubai Investments Park Development Company, which operates a 23 million sqm industrial and commercial estate offering long-term ground leases across logistics, industrial, residential and commercial uses.
The dividend case is central to the pitch. DIP Holding has guided for annual cash dividends of AED 700 million in FY2026, AED 725 million in FY2027 and AED 750 million in FY2028, with the company expecting to maintain that level or grow it from 2029 onwards. Distributions will run semi-annually, subject to board recommendation and shareholder approval.
The first post-IPO payment of AED 350 million, covering the full second half of 2026, is expected in April 2027. At the top of the price range, the FY2027 dividend implies a yield of approximately 7.27 per cent; at the bottom, 7.60 per cent.
The offering is split across four tranches. Individual subscribers (First Tranche) receive 5 per cent of the offer shares, with a guaranteed minimum allocation of 2,000 shares per successful applicant. Professional investors (Second Tranche) take 92 per cent, and the final offer price will be set through a book-building process based solely on their orders.
Eligible Dubai Investments employees (Third Tranche) and existing Dubai Investments shareholders (Fourth Tranche) share the remaining 3 per cent, each with a minimum guaranteed allocation of 5,000 shares. Shareholders in the fourth tranche needed to hold Dubai Investments PJSC shares as of a record date of October 28, 2026.
The subscription period runs from October 27 to November 3, 2026. The final offer price is expected to be announced on November 4, with allocation and refunds for the retail tranches on 10 November and DFM listing anticipated on November 11.
Citi, Emirates NBD Capital and HSBC have been appointed as Joint Global Coordinators. ADCB, Arqaam Capital, Dubai Islamic Bank and EFG Hermes are acting as Joint Bookrunners.
Emirates NBD Bank is the lead receiving bank. Internal Shariah supervision committees at Emirates NBD Bank and Dubai Islamic Bank have confirmed the offering complies with Shariah principles.
A stabilisation mechanism covering 10 per cent of the offering, managed by xCube LLC, will be in place for up to 30 calendar days after trading begins. The selling shareholder and the company are each subject to a 180-day lock-up from admission.
Full prospectus documentation is available at ipo.dipark.com.
