Page 33 - ALEF EDUCATION PR REPORT - AUGUST 2024

9/2/24, 9:35 AM Talabat IPO: Parent of UAE food delivery firm preparing for Dubai listing | The National
Talabat’s intention to float follows construction and dredging services provider NMDC

Group’s announcement on Wednesday to list shares of its unit NMDC Energy on the Abu

Dhabi Securities Exchange.

The company has secured listing approval from the market regulator Commodities and
Securities Authority for what would be the UAE’s biggest IPO this year.

NMDC Group plans to raise Dh3.22 billion ($877 million) from the sale of its stake in its

energy subsidiary. The parent is offering 1.15 billion shares in the business at Dh2.80

dirhams a piece, it said in a statement.

The subscription period for the deal will start on Friday and will remain open until
September 4 for individual and qualified investors.

First Abu Dhabi Bank is the lead manager for the deal, which would trump the $515

million raised by Alef Education earlier this year, but will be smaller than the healthcare

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