Talabat to sell 15% stake in Dubai IPO

By Aya Anwar On Nov 11, 2024

Talabat Holding, the Middle East arm of Delivery Hero, announced plans to sell 3.49 billion shares, representing a 15 per cent stake, in a Dubai IPO. The offering, expected to raise over $1 billion, will run from Nov 19-27 for UAE retail investors and start on Nov 28 for professional investors.

Delivery Hero, which acquired a majority stake in Talabat in 2015, will retain control post-IPO. Talabat, which launched in 2004 in Kuwait, operates in several Middle Eastern markets. Trading will begin on the Dubai Financial Market (DMF) around Dec 10.

Attribution: Reuters

Subediting: M. S. Salama