Dubai: DIP Holding set a price range of Dh1.10 to Dh1.15 per share for its initial public offering on Tuesday, valuing the subsidiary of Dubai Investments at between Dh9.5 billion and Dh10 billion.

The offering, which opened for subscription on October 27, comprises about 1.74 billion existing shares, equivalent to a 20% stake. It is expected to raise between Dh1.9 billion and Dh2 billion, with all proceeds going to Dubai Investments, the selling shareholder.

Dubai Investments will retain an 80% stake after the sale, assuming the offering size remains unchanged. It may adjust the size of the offering or individual tranches before subscriptions close, subject to applicable laws and Capital Market Authority approval.

Subscriptions will close on November 3.…