Dubai: UAE residents looking to invest in DIP Holding’s initial public offering can apply through the public subscription category from October 27. The minimum application is Dh5,000, with subscriptions closing on November 3.
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Dubai Investments plans to sell a 20 per cent stake in the company, which owns the operator of Dubai Investments Park. Trading on the Dubai Financial Market is expected to begin on November 11.
Applying does not mean you will receive shares worth your full investment. Your allocation will depend on the offering’s subscription and allocation rules, with surplus money returned after allocations.
1. Get your investor number
You need a Dubai Financial Market investor number, known as a NIN, before applying. This identifies your investments on the exchange.
You can obtain a NIN through the DFM app or a broker. The documents also identify bank channels that support investor number registration, including Wio and the Mbank UAE app.
Have your identification documents ready. For individual applicants, the notice lists NIN details and an original and copy of a valid passport or Emirates ID, with electronic channels applying their own identification procedures.
2. Choose where to apply
You can submit an application through DFM’s IPO subscription platform, its mobile app or the DFM iVESTOR application. Participating banks also offer subscription services, although account requirements and available channels differ.
The receiving banks listed in the documents include Emirates NBD, Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, Dubai Islamic Bank, Emirates Islamic, First Abu Dhabi Bank and Wio.
Follow your chosen platform’s instructions to enter your investor number, select the offering and provide the required account details. Bank channels may also require you to select the broker account that will receive your shares.
3. Decide how much to invest
For the public subscription category, the minimum application is Dh5,000. You can increase this in multiples of Dh1,000, meaning applications could total Dh6,000, Dh7,000 or more.
The offer documents set no maximum subscription amount. Submit only one application in the same capacity: duplicate applications can lead to rejection.
Separate categories apply to eligible Dubai Investments group employees and eligible Dubai Investments shareholders. The employee category has a lower minimum application of Dh1,000, while the eligible shareholder category starts at Dh5,000.
4. Check price before applying
The offer price range is scheduled for announcement on October 27, before subscriptions open. The final price will be announced on November 4, after the subscription period closes.
The documents state a nominal share value of Dh0.20. This is an accounting value used for share capital, rather than the IPO purchase price.
5. Meet your payment deadline
The deadline depends on how you pay. Some payment methods close before the overall subscription period ends.
Cheque payments: Submit by 1pm on October 31.
Specified bank transfer channels — PGS, FTS and SWIFT: Submit before 1pm on November 2.
ATM, internet banking, mobile app and website applications: Submit by 1pm on November 3.
Complete the required application details and ensure you have sufficient funds. Keep your application acknowledgement so you can follow up if needed.
6. Check your allocation, refund
Allocations for the public subscription category are scheduled for November 10. SMS notifications and refunds of surplus subscription money are also due to begin that day.
The public category includes a minimum allocation provision of 2,000 shares per subscriber, subject to the number applied for and the total shares available in that category. This is separate from the Dh5,000 minimum application and remains subject to the conditions in the offering documents.
7. Prepare for trading
DIP Holding expects its shares to begin trading on DFM on November 11. Once your allocated shares are available for trading, you can hold them or place a sell order through your broker.
Before applying, read the prospectus’s business details, financial information and risk factors. The subscription notices alone do not establish the company’s valuation or potential investment return.