Talabat Announces IPO Plans, Set to List on Dubai Financial Market

Talabat Holding plc, the leading on-demand food delivery and grocery service in the MENA region, has announced its intention to proceed with an initial public offering (IPO) and list its shares on the Dubai Financial Market (DFM).

The offering will include 3,493,236,093 shares, representing 15% of the company’s total issued share capital.

The IPO will be offered in two tranches: the UAE Retail Offering, which includes UAE Retail Investors and eligible employees of Talabat, and the Qualified Investor Offering for professional investors outside the US, including in the UAE. The subscription period for retail investors will run from November 19 to November 27, 2024, while professional investors can subscribe until November 28, 2024. The offer price will be determined through a book-building process.

The offering is backed by Talabat's parent company, Delivery Hero MENA Holding GmbH, and is expected to complete by December 10, 2024, subject to regulatory approvals. The company anticipates a dividend payout of AED 367.25 million in April 2025, with subsequent distributions planned for 2025 and beyond.

Talabat's leadership, with strong MENA market presence and global backing from Delivery Hero, believes the IPO marks a key milestone in the company’s growth.

"As we enter this new chapter, we are excited to continue delivering to the region,"

said Tomaso Rodriguez, CEO of Talabat.

The IPO process is supported by several prominent banks, including Emirates NBD and J.P. Morgan. Emirates NBD Capital PSC, J.P. Morgan, and Morgan Stanley have been appointed as joint global coordinators for the IPO.

News Source: Dubai Media Office