Talabat Holding has officially announced the price range for its initial public offering (IPO) on the Dubai Financial Market (DFM), marking the start of the subscription period.
The offer price is set between AED 1.50 and AED 1.60 per share, valuing the company at between AED 34.93 billion and AED 37.26 billion at the time of listing.
A total of over 3.4 billion shares, representing 15% of the company’s total capital, will be available in the offering. All shares are being sold by Talabat's sole shareholder, Delivery Hero MENA Holding GmbH, a subsidiary of Delivery Hero SE.
Among the key investors, the UAE Strategic Investment Fund, Abu Dhabi Pension Fund, and Emirates International Investment Company are participating as cornerstone investors, committing AED 918 million, or approximately $250 million.
The IPO subscription period starts today and will close on November 27 for UAE retail investors and November 28 for professional investors. The final offer price is expected to be announced on November 29, with trading set to begin on or around December 10.
Tomaso Rodriguez, CEO of Talabat, expressed excitement about the IPO, highlighting the company’s growth in the region, with over 65,000 restaurants and grocery businesses across eight MENA countries and more than six million active customers.
He also noted the company’s strategic focus on expanding its offerings and market presence, making it an attractive opportunity for investors.
A number of global financial institutions are involved in the offering, including Emirates NBD Capital, J.P. Morgan, and Morgan Stanley, among others.
Additionally, the IPO is confirmed to comply with Shariah principles, according to Emirates NBD Bank's Internal Shariah Supervision Committee, however, investors should undertake their own due diligence to ensure that the offering is compliant with Shariah principles for their own purposes.
Subscriptions for the talabat IPO open today and close on 27 November. The price range has been set at AED 1.50 to AED 1.60 per share.
— talabat (@Talabat) November 19, 2024
Our IPO is an opportunity for investors to take part in the future growth of the leading on-demand delivery platform in MENA.
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