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Dubai Investments plans to float 20% stake in DIP Holding in UAE's first IPO of the year
DUBAI: Dubai Investments plans to float a 20% stake in subsidiary DIP Holding, the owner of the Dubai Investments Park real estate business, in the first initial public offering in the United Arab Emirates this year and one of only a few in the Gulf amid the Iran war. The offer, consisting of 1.74 billion shares, will be split across four tranches, DIP Holding said in a statement on Monday. The offer is expected to run from October 27 to November 3, with a market debut on the Dubai Financial Market on or around November 11. Dubai Investments Park is a 23 million square metre development cons...
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