The Dubai Financial Market will list Talabat shares next Tuesday

The shares of Talabat Holding PLC, the platform operating in the online ordering market “talabat” and affiliated with the German company Delivery Hero, are expected to be listed and traded on the Dubai Financial Market next Tuesday, December 10, 2024.

At the beginning of this month, it was announced that the price construction and subscription process for its initial public offering on the Dubai Financial Market was successful, as the final offering price was set at 1.6 dirhams per share, which is the upper limit of the price range.

Thus, the company’s market value upon listing amounts to more than 37 billion dirhams

The delivery services company raised about 7.5 billion dirhams from the initial public offering of a 20% stake in its shares, and the great demand from international, regional and local investors led to the subscription exceeding the target value ten times.

Talabat indicated that the offering recorded a record achievement as the largest initial public offering for a technology company globally in 2024 so far, the largest initial public offering in the Gulf Cooperation Council countries for the year 2024 so far, and the first initial public offering ever for a company operating in the technology sector in the Dubai market. Financial

It is noteworthy that Talabat was founded in the Middle East in 2004, and today our platform is used by more than 65,000 restaurants and grocery stores in eight countries across the Middle East and North Africa, and more than six million active customers.

On August 29, Delivery Hero announced its plans to list Talabat, which specializes in food and grocery delivery and operates in the Emirates and several countries in the Middle East, on the Dubai Financial Market during the fourth quarter of the year.

Bloomberg Intelligence estimates the institutional value of Talabat at more than 5.4 billion euros ($6 billion), while RBC Capital Markets estimatesDelivery Hero’s business value in the MENA region is at €5 billion, indicating a valuation of 1.3 times enterprise value compared to revenue.