DIP Holding IPO Priced At Dh1.12 Per Share, With Dh1.9 Billion Total Offering Size
The total size of the IPO is presumed to be Dh1.9 billion, with a market capitalisation of Dh9.7 billion upon listing on the Dubai Financial Market (DFM).
Recommended For You Iran says in 'intensive' negotiations with US to avert war via mediatorsThe final offer price follows the successful completion of the bookbuilding and subscription process on November 3. DIP Holding said the offering attracted strong demand from local, regional and international investors, and was“significantly oversubscribed.”
DIP Holding's IPO is the first in the UAE this year.
All offer shares are existing shares being sold by Dubai Investments, which will receive the net proceeds from the IPO. Following its completion, the Selling Shareholder will retain an 80 per cent stake in DIP Holding.
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“The strong demand from local, regional and international investors across the entire price range is a powerful endorsement of the business we have built: a mature, infrastructure-like platform underpinned by long-term tenant relationships, stable recurring income and clear opportunities for growth,” Khalid Jassim Bin Kalban, Chairman of DIP Holding and CEO of Dubai Investments, said.
He added that the final offer price provides an attractive entry point and dividend yield for new investors
DIP Holding said it expects to pay annualised cash dividends of Dh700 million, Dh725 million and Dh750 million by year-end of 2026, 2027, and 2028, respectively. The company will also distribute dividends on a semi-annual basis, subject to applicable regulatory considerations.
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