Dubai Investments, a Dubai-listed investment holding conglomerate, is selling a 20 per cent stake in its subsidiary DIP Holding in the first initial public offering this year in UAE.
The deal will comprise the sale of 1.74 billion shares by existing shareholders in DIP Holding, the operator of the investment free zone in the emirate, the company said in a statement on Monday.
The parent Dubai Investments will continue to control the remaining 80 per cent shareholding in DIP Holdings, contingent upon the offering size remaining unchanged and all shares on sale allocated to investors, it said.
Subscriptions for the sale are set to open on October 27 and will run through to November 3. Final pricing for the deal will be announced on November 4.
DIP holding shares are expected to start trading on the Dubai Financial Market on November 11, according to the offer document.
The deal breaks the lull in the dormant IPO market in the UAE. The Arab world’s second largest economy was a hot bed for public floats with the DFM and the Abu Dhabi Securities Market both attracting a steady stream of IPOs over the last few years.
The Middle East IPO market last year slowed after it was hit by lower oil prices, geopolitical risks and weaker post-listing performances, with firms in the region raising $7.1 billion from 61 listings, down from $13 billion level a year earlier.
UAE companies raised a total of $1.1 billion through three IPOs in 2025, Dealogic data shows.
The US war with Iran, now in its eighth month, has further disrupted the already slowing momentum as companies put their plans on hold of tapping equities market to raise capital.
Dubai Investments, in which sovereign investment fund Investment Corporation of Dubai holds a stake, was among the UAE companies that expressed intentions to list shares before the war-driven uncertainties sapped deal volumes.
The company in September last year said that it was in talks with banks and planned to list up to 25 per cent of its investment free zone unit.
Dubai Investment Park, near Al Maktoum International Airport and Jebel Ali Port, is home to 1,000 tenants, 5,700 subtenants and more than 150,000 residents. Established in 1997, the investment park hosts warehousing facilities, hotels, retail outlets, schools and medical centers, making it one of the largest mixed-use developments in the emirate.