Dubai Investments has revealed plans to offer a 20 percent stake in its subsidiary, DIP Holding, marking the first initial public offering in the United Arab Emirates for the current year. The transaction involves the sale of 1.74 billion shares currently held by existing shareholders of the entity, which manages the Dubai Investments Park development. Following the completion of this offering, the parent company intends to retain an 80 percent majority interest in the subsidiary. The subscription period for interested investors is scheduled to commence on October 27 and conclude on November 3. The final share price will be disclosed on November 4, with the official commencement of trading on the Dubai Financial Market anticipated for November 11.
Source : The National
Photo : The National
