TLDR:
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Talabat’s IPO eyes $1.5 billion
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Key players drive Dubai listing
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MENA growth boosts market interest
DUBAI (The Thursday Times) — Delivery Hero is preparing to make waves in Dubai’s financial scene with the upcoming IPO of its Middle East subsidiary, Talabat. Expected to raise around $1.5 billion, this listing will mark a milestone for the region’s food delivery giant, attracting attention from global and regional investors alike. The offer period opens on November 19, with shares priced between AED 1.50 to AED 1.60, and trading will commence on December 10.
A milestone in Talabat’s growth journey
The decision to list Talabat on the Dubai Financial Market (DFM) represents a significant step for Delivery Hero’s regional operations. With Talabat servicing over six million active customers across the Middle East and North Africa (MENA) region, the IPO comes at a time of robust growth in online food delivery. Talabat’s CEO, Tomaso Rodriguez, described the public offering as a “new chapter” that leverages the UAE’s favourable socio-economic conditions, including high urbanisation rates, a youthful demographic, and rising digital adoption.
Pricing, timelines, and investor interest
Delivery Hero will offer over 3.49 billion shares, representing a 15% stake in Talabat, with a final price reveal scheduled for November 29. Cornerstone investors, including Emirates NBD AM SPC (representing the UAE Strategic Investment Fund), Abu Dhabi Pension Fund, and Emirates International Investment Company, have committed AED 918 million. Joint global coordinators such as Emirates NBD Capital, J.P. Morgan, and Morgan Stanley will support the offering.
Why Talabat’s IPO matters for the MENA region
Talabat’s listing on the DFM signals a rising trend of high-value IPOs in the region. Recent successes, including Lulu Retail’s $1.7 billion listing in Abu Dhabi, reflect MENA’s growing attraction for capital investment. Talabat’s anticipated success could further establish Dubai as a hub for major public offerings, especially in the tech-driven consumer services space. With a solid presence across eight countries and a strategic focus on digital growth, Talabat is well-positioned to capitalise on investor interest and regional demand.∎
