DIP Holding Begins IPO Subscription Period, Valued at Up to $2.7B

Dubai, UAE - DIP Holding has initiated its Initial Public Offering (IPO) subscription period, with shares priced between $0.30 and $0.41 each, targeting a market capitalization of up to $2.7 billion. The subscription period, which began on Tuesday, will close on November 3. The final offer price will be determined after the book-building process concludes, with an anticipated announcement on November 4. Trading of ordinary shares on the Dubai Financial Market (DFM) is expected to commence around November 11.

Dubai Investments, the selling shareholder, will offer 1,735,243,300 shares, representing 20% of DIP Holding's issued share capital. The total offering size is projected to be between $520 million and $543 million. DIP Holding, incorporated in the Dubai International Financial Centre (DIFC), is the sole shareholder of Dubai Investments Park Development Company, which operates Dubai Investments Park, a 23 million square-meter platform for various infrastructure-enabled leases.

DIP Holding anticipates annualized cash dividends of $190 million, $197.4 million, and $204 million for the financial years ending December 31, 2026, 2027, and 2028, respectively. The first post-IPO dividend, amounting to $95.3 million, is expected to be distributed in April 2027. Based on the expected annual dividend of $197.4 million for the fiscal year 2027, the price range implies a dividend yield of approximately 7.27% to 7.6%.

The subscription period is open for all four tranches, with the final offer price to be determined following the completion of the book-building process. The IPO is a significant step for DIP Holding, which aims to leverage the capital markets to support its growth and development initiatives.