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11/11/24, 11:48 AM Talabat IPO: Parent of food delivery company to sell 15% stake in Dubai listing | The National
Talabat IPO: Parent of food delivery company to sell 15% stake in Dubai listing

Germany-based Delivery Hero expects its UAE unit to start trading on the Dubai bourse by mid-December

Sarmad Khan
November 11, 2024

Delivery Hero, the Germany-based food delivery platform, plans to list 15 per cent of

its UAE subsidiary Talabat on the Dubai bourse in the fourth quarter, as it looks to

capitalise on the listing boom in the Emirates.

A total of 3,493,236,093 shares, each with a nominal value of Dh0.04, will be made

available in the offering, on-demand food and quick-commerce company Talabat said in

its prospectus on Monday.

The IPO of Talabat was announced in August and the public float remains subject to

market conditions.

The subscription period will open on November 19 and end on November 27 for UAE

retail investors, including eligible employees of Talabat, and on November 28 for

institutional investors.

The offer price will be determined through a book building process during the subscription

period, the company said. The company expects to start trading on the Dubai Financial
Market on or around December 10.

Talabat, which offers delivery of food, groceries and convenience retail, has operations in

the UAE, Kuwait, Qatar, Bahrain, Egypt, Oman, Jordan, and Iraq. For the month of

September, its platform had more than six million active customers, more than 65,000

active restaurants, other groceries and retail vendors, as well as about 119,000 active

riders.

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