EFG Hermes Concludes Advisory on DIP Holding’s AED 1.94bn DFM IPO, the UAE’s First Public Offering of 2026

EFG Hermes, an EFG Holding company and the leading investment bank in the Middle East and North Africa (MENA), announced today that it has successfully concluded its role as Joint Bookrunner on the AED 1.94 Billion (c. USD 529 Million) Initial Public Offering of DIP Holding PLC, owner of Dubai Investments Park on the Dubai Financial Market (DFM), the first IPO in the UAE and on the DFM in 2026, under the ticker symbol “DIP”.

Following completion of the institutional tranche book-building process, the final offer price was set at AED 1.12 per share. The AED 1.94 billion offering (c. USD 529 million) comprised of 1,735,243,300 existing ordinary shares—20% of DIP Holding’s issued share capital—sold by Dubai Investments PJSC, the Selling Shareholder. At the final offer price, DIP Holding’s implied market capitalization is AED 9.7 billion (c. USD 2.64 billion).

DIP Holding owns 100% of Dubai Investments Park Development Company LLC (DIPDC), the operating entity of Dubai Investments Park—a 23 million sqm integrated “city-within-a-city” strategically positioned in Dubai’s southern corridor between Jebel Ali Port and Al Maktoum International Airport. The park accommodates approximately 1,000 tenants, 5,700 sub-leases, and over 150,000 residents, delivering a 99.9% ground lease occupancy rate as of 30 June 2026. Parent company Dubai Investments PJSC will retain an 80% controlling stake in DIP Holding post-IPO.

Karim Meleka, Co-Head of Investment Banking at EFG Hermes, commented: “We are proud to have supported DIP Holding on its IPO. Our regional and international investor networks helped connect a strong regional issuer with global capital. The transaction further strengthens our track record of delivering landmark equity offerings across the region.”

Christopher Laing, Head of Equity Capital Markets at EFG Hermes, added: “Partnering with Dubai Investments on the listing of DIP Holding reflected a disciplined placement process. Pricing was set through a competitive book-building process among professional and institutional investors, who received 92% of the offering, alongside dedicated tranches for retail investors, employees, and eligible Dubai Investments PJSC shareholders. As the first IPO in the UAE this year, the listing provides a valuable reference point for issuers considering the region’s equity capital markets and reinforces the UAE’s status as a premier destination for global capital.”

The successful completion of DIP Holding’s IPO on the DFM follows EFG Hermes’ successful execution of Banque du Caire’s IPO on the EGX, further strengthening the firm’s leadership in equity capital markets and its central role in revitalizing exchange activity. Together with MNT-Halan’s recent listing and Trolley and Gourmet’s IPOs earlier this year, and with further IPOs in the pipeline for execution before year-end and in early 2027, EFG Hermes continues to demonstrate its ability to bring high-quality issuers to market and attract domestic, regional, and international capital.