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A&O Shearman advises the underwriters on the Dubai IPO of DIP Holding PLC

AO Shearman advises the underwriters on the Dubai IPO of DIP Holding PLC
Published Date
Nov 10, 2026
Related people
Image of Jeff Hendrickson
Jeff HendricksonPartner, London
Image of Harsha Kumar
Harsha KumarPartner, Dubai
Image of Baxter Schooley
Baxter SchooleySenior Associate, London
Image of James Clark
James ClarkLawyer, Dubai
Image of Georges Haddad
Georges HaddadAssociate, London
A&O Shearman has advised the underwriters on the AED 2.0billion (approximately USD543 million) initial public offering of DIP Holding PLC (DIP Holding), the owner of Dubai Investments Park, and its listing on the Dubai Financial Market (DFM). The transaction represents a key milestone in the UAE’s first IPO of 2026 and follows strong investor participation in the Offering.

At the offer price of AED1.12 per share, the Offering gives DIP Holding a market capitalization of approximately AED9.7bn (USD2.6bn). DIP Holding’s shares commenced trading on the DFM on November 11, 2026.

Dubai Investments, which retains an 80% stake in DIP Holding, was incorporated in 1995 and has been listed on the DFM since 2000. It has over 35 portfolio companies and approximately AED23.9bn in total assets as at June 30, 2026.

“We are delighted to have advised the underwriters on the UAE’s first IPO of 2026. The strong demand for DIP Holding shows the continued depth of international and regional investor appetite for high-quality, income-generating assets in the Gulf. It also confirms the DFM as a leading venue for landmark equity capital markets transactions.”

Harsha Kumar, Dubai-based ECM lead partner at A&O Shearman, added: “Dubai Investments Park is one of Dubai’s most established mixed-use communities, and this listing is an important milestone for DIP Holding and capital markets in the UAE. It was a pleasure to work with the underwriters on this significant transaction and demonstrates the strength of our integrated offering across London and the Middle East.”

The A&O Shearman team is led by partners Jeff Hendrickson in London and Harsha Kumar in Dubai with key support from senior associate Baxter Schooley and associates Mariam Jaber, James Clark, and Georges Haddad.

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