DIP Holding sets IPO price at Dh1.12, raising Dh1.9 billion

Dubai: DIP Holding has priced its initial public offering at Dh1.12 per share, raising about Dh1.9 billion in the UAE’s first IPO of 2026. Shares are expected to start trading on the Dubai Financial Market on November 11. 

Subscriptions closed on November 3, and the company announced the final price on November 4. Local, regional and international investors covered the offer several times across the price range, a press release by the company confirmed.

DIP Holding set the range on October 27 at Dh1.10 to Dh1.15 per share. The final price of Dh1.12 values the company at Dh9.7 billion, within the Dh9.5 billion to Dh10 billion indicated earlier. 

Key numbers at a glance

• Final offer price: Dh1.12 per share

• Offering size: Dh1.9 billion

• Market value at listing: Dh9.7 billion

• Shares sold: 1,735,243,300, equal to 20 per cent

• Dubai Investments’ stake after the sale: 80 per cent

• Implied dividend yield: about 7.5 per cent

• Expected 2027 dividend: Dh725 million

• Allocation: November 10. Listing: November 11, symbol “DIP”

Who gets the money

Dubai Investments PJSC is selling existing shares, so it collects the net proceeds. DIP Holding receives nothing. The parent keeps 80 per cent. Both sides accept a 180-day lock-up after listing.

Khalid Jassim Bin Kalban, Chairman of DIP Holding called the market response a milestone for Dubai’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. We are proud to play a part in this important moment and look ahead with excitement and conviction to DIP Holding’s next chapter”

Omar AlMesmar, Chief Executive Officer of DIP Holding is focussing on the growth strategy ahead. “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,” he added.

Dividends drive the pitch

DIP Holding expects annualised dividends of Dh700 million ($191 million) for 2026, Dh725 million for 2027 and Dh750 million ($204 million) for 2028. Payments run twice a year and need board and shareholder approval.

The first post-IPO payout is Dh350 million ($95 million), due in April 2027. It covers all of the second half of 2026, so new investors receive the full half-year amount. The company then plans Dh362.5 million in October 2027 and the same in April 2028.

What happens next

Individual subscribers, eligible Dubai Investments employees and eligible Dubai Investments shareholders learn their allocations by SMS on November 10. Refunds of surplus subscription money will be returned that day. The public tranche required a minimum of Dh5,000.

The Internal Shariah Supervision Committees of Emirates NBD and Dubai Islamic Bank confirmed the offering complies with Shariah principles. Citi, Emirates NBD Capital and HSBC acted as joint global coordinators.

All eyes will now be on its DFM listing on November 11.