Dubai Investments to list DIP Holding shares on Dubai Financial Market

DIP Holding, the owner of Dubai Investments Park, plans to list on the Dubai Financial Market (DFM) through an initial public offering (IPO).

Its sole shareholder, Dubai Investments, is selling more than 1.7 billion existing shares, a 20 per cent stake in the company.

Because these are existing shares, all the money raised will go to Dubai Investments, not DIP Holding.

The subscription period runs from October 27 to November 3. The shares are expected to start trading on the DFM on or around Wednesday, November 11.

Five per cent of the shares are set aside for individual investors with a valid National Investor Number from the DFM. Most of the offering, 92 per cent, is reserved for professional investors.

The rest is split between employees of the Dubai Investments group and its eligible shareholders.

The share price will be in dirhams. The price range will be announced before subscriptions open, and the final price will be set once demand has been measured.

Dubai Investments Park covers 23 million square metres between Jebel Ali Port and Al Maktoum International Airport. It is home to about 1,000 tenants and more than 150,000 residents, and covers logistics, industrial, residential and commercial uses.

“Our intention to list DIP Holding on the Dubai Financial Market represents a natural next step in a journey that began more than 25 years ago,” said Khalid Jassim Bin Kalban, Chairman of DIP Holding.

Chief Executive Omar AlMesmar said the IPO “marks an important milestone in DIP Holding’s journey”.