DIP Holding, the owner of Dubai Investments Park, has announced plans to list its shares on the Dubai Financial Market through an initial public offering comprising 20% of its issued share capital.

A DIFC-incorporated public company and the sole shareholder of Dubai Investments Park Development Company, it operates DIP, a 23 million sqm infrastructure-like ground rent and services platform offering long-term infrastructure-enabled leases for tenants across logistics, industrial, residential and commercial uses.

As per the deal, Dubai Investments will be selling 1.735 billion existing shares in the offering. However, DIP Holding will not receive any proceeds from the sale.

The subscription period is expected to run from October 27 to November 3, with the shares expected to begin trading on the DFM on or around November 11. For the offering, EFG Hermes UAE is the joint bookrunner.

According to DIP Holding, the offering will be open to individual and other eligible investors with a valid National Investor Number, professional investors, eligible employees of Dubai Investments and eligible shareholders of the investment company as of October 28.

Dubai Investments will be able to amend the size of the offering and its investor tranches before the subscription period closes, subject to applicable UAE laws and regulatory approval, it stated.

"Individual subscribers and other eligible investors holding a valid NIN with the Dubai Financial Market will be part of the First Tranche, while the professional investors will be part of the Second Tranche followed by the eligible employees of Dubai Investments PJSC Group, as part of the Third Tranche," said Dubai Investments Park in its statement.

Dubai Investments' eligible shareholders as on the record date of October 28 will form the fourth tranche, it added.-TradeArabia News Service