Talabat intends to offer 3.49 billion shares in Dubai Financial

Talabat Holding PLC, an online ordering platform, announced yesterday its intention to proceed with an initial public offering and list its ordinary shares for trading on the Dubai Financial Market.

Talabat stated, in a statement, that a total of 3.49 billion shares of common stock will be sold, representing 15% of the total issued shares in the company’s capital.

The offering is available to individual investors in the UAE, including qualified Talabat employees, as part of the offering to individual subscribers in the UAE or the first tranche, as well as to professional investors outside the United States, including the UAE, as part of the offering to qualified investors or the second tranche. .

The subscription period begins on November 19, 2024, and ends on the 27th of the same month, for individual investors in the UAE, and on November 28, 2024, for professional investors.

The offering price will be determined through the process of building the order book during the subscription period.

The offering consists of three billion and 493 million and 236 thousand and 93 shares divided into two tranches: the first tranche includes individual subscribers, qualified employees and other investors (including natural persons, companies and institutions), who do not participate in the second tranche and who hold a national investor number with the Dubai Financial Market and have an account. banking.

5% of the offering shares, which represent 174 million 661 thousand and 805 shares, will be allocated to the first tranche.

The second tranche includes professional investors, and 95% of the offering shares, which represent three billion, 318 million, 574 thousand and 288 shares, will be allocated to the second tranche.

The shares are expected to be accepted for trading on the Dubai Financial Market on or around December 10, 2024.

The company’s paid-up capital was set at 931.5 million dirhams on the date of issuing the prospectus for the public offering in the UAE, divided into 23.288 billion shares, with a nominal value of 0.04 dirhams per share.

After completing the offering process, the company intends to pay dividends of no less than 367.25 million dirhams (equivalent to 100 million dollars) in April 2025, for the results of the fourth quarter of 2024. The company intends to pay dividends of no less than 1,469 million dirhams. One billion dirhams, equivalent to $400 million, in two installments, in October 2025 and April 2026 in relation to The financial results for the year ending December 31, 2025.