Page 54 - ALEF EDUCATION PR RPEORT APRIL 2025

4/28/25, 10:11 AM UAE’s IPO pipeline set for growth with potential Cafu stake sale | The National

While Cafu is the leading fuel delivery operator in this region, globally, the space is dominated by a couple of players,
Mr Valecha said.

The latest market reports point to North America as the biggest market for this segment. The US is dominated by many
apps, including Yoshi, Gaston, Ez Fill, Booster and Fuelster. Besides these start-ups, major American oil companies
Shell and Mobil have introduced services in this segment, he added.

The global on-demand fuel delivery market size is projected to touch $2.37 billion by 2033, recording a compound
annual growth rate of 15.97 per cent from 2025 to 2033, according to market intelligence firm Business Research
Insights.

There has been a listings boom in the UAE in the past few years as the Arab world’s second-largest economy
continues to grow amid diversification efforts.

There were seven IPOs across the UAE last year, including Talabat Holding, major retailer Lulu Group, ADNH
Catering, NMDC Energy and Alef Education. IPOs in the UAE accounted for 47 per cent, or $6.2 billion, of total Gulf
proceeds last year, PwC said in a report.

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