talabat Holding plc, the MENA region’s leading on-demand food, grocery, and retail platform, today celebrated its successful listing on the Dubai Financial Market (DFM) under the ticker symbol “TALABAT.”
The company's initial public offering (IPO) raised AED 7.5 billion (USD 2 billion), marking the largest global technology IPO of 2024 and the largest IPO in the GCC this year. This is also the first-ever technology sector IPO on DFM.
Delivery Hero SE, a public company listed on the Frankfurt Stock Exchange, remains talabat's majority shareholder following the offering, which saw the sale of 20% of talabat’s total issued share capital. The IPO attracted strong interest from local, regional, and international investors, including cornerstone investors like Emirates NBD AM SPC, the Abu Dhabi Pension Fund, and Emirates International Investment Company LLC.
Talabat’s listing is the third successful one on DFM in 2024, reinforcing Dubai's position as a growing global financial hub. The event was marked by a bell-ringing ceremony led by talabat CEO Tomaso Rodriguez, alongside key officials, including His Excellency Helal Al Marri, Chairman of DFM, and Hamed Ali, CEO of DFM and Nasdaq Dubai.
“The successful listing of Talabat reflects Dubai’s dynamic financial ecosystem and robust regulatory environment,”
said Al Marri. Talabat CEO Rodriguez expressed excitement over the IPO’s success and highlighted the company’s ambitious growth strategy, which includes enhancing product offerings, expanding market penetration, and investing in customer loyalty and FinTech.
talabat operates in eight markets and serves millions of active customers, further driving Dubai’s broader economic diversification strategy.
News Source: Dubai Media Office
