Dubai Investments’ subsidiary DIP Holding PLC is seeking to attract investors to the United Arab Emirates’ first initial public offering () this year by offering $592 million in dividend payouts over the next three years. The promise of massive dividends comes after US-Israeli strikes on Iran in February triggered a war that has rattled neighbouring countries and fuelled uncertainty across the .
Citing the deal, Bloomberg reported the development on Monday, adding that Dubai Investments, the company’s sole owner, plans to sell a 20% stake. DIP Holding owns Dubai Investments Park, one of the country’s largest mixed-use developments.
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Investors can subscribe to the IPO from 27 October to 3 November, with the shares expected to begin trading on Dubai’s stock exchange on 11 November. Bloomberg reported last week that the company planned to begin meetings with investors.
For 2026, the company is planning annualised payouts of 700 million dirhams ($190.58 million), rising to 725 million dirhams ($197.41 million) in 2027 and 750 million dirhams ($204.22 million) in 2028.
In a statement on Monday, the firm said the offer, consisting of 1.74 billion shares, would be split across four tranches, Reuters reported. The statement added that Dubai Investments would sell existing shares in DIP Holding through the IPO. DIP Holding said it would receive none of the proceeds from the sale.
Citigroup, Emirates NBD Capital and HSBC Holdings are serving as joint global coordinators for the IPO, while Abu Dhabi Commercial Bank, Arqaam, Dubai Islamic Bank and EFG Hermes have been appointed as joint bookrunners.
Citing LSEG data, Reuters reported that firms in the Middle East and Africa raised $2.3 billion through share sales in the first nine months of the year, marking a 79% decline from the corresponding period last year and the lowest level since 2017.
According to Bloomberg, listing volumes in the Gulf, once a hub for IPOs, have declined sharply this year as the regional war has deepened a broader market slowdown. Stock markets across the region have declined since the conflict began, except in Oman. Dubai’s has fallen around 9%.
Gulf stock markets traded cautiously on Monday as a tanker explosion in the and doubts over when the waterway would reopen heightened investor concerns about regional tensions.
In August, Semafor reported that three Saudi Arabian companies had put their IPO plans on hold amid expectations of weak investor demand as the Iran war weighed on sentiment.
