Page 130 - ALEF EDUCATION PR REPORT NOVEMBER 2024

11/11/24, 11:48 AM Talabat IPO: Parent of food delivery company to sell 15% stake in Dubai listing | The National
Frankfurt-listed Delivery Hero is selling its existing shares in Talabat and has received the

board’s approval to pursue the initial public offering, it said in a statement on its website

on Sunday. “Delivery Hero may amend the size of the offering subject to required

approvals of the Securities and Commodities Authority of the UAE,” it added.

The Berlin-based parent will retain majority interest in Talabat and, “subject to a lock-up

of 180 days following listing, be represented with half of the directors on the board of

Talabat”, the company added.

The proceeds of the IPO, depending on the number and price of Talabat shares eventually

sold in the public float, will be used by Delivery Hero for “general corporate purposes and

to further optimise its capital structure”.

Post-listing, Talabat plans to pay a minimum dividend of about $100 million in April 2025
for the fourth quarter of 2024. It will pay $400 million in two instalments in October 2025

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