Talabat announces plans for IPO on Dubai Financial Market

Monday, 11 November 2024 08:08

By ARN News Staff

Talabat Holding plc, the on-demand food and grocery delivery service, has revealed its intention to proceed with an initial public offering (IPO) and list its shares on the Dubai Financial Market (DFM).

The offering will include 3.49 billion shares, representing 15% of the company’s total issued capital.

The IPO, set to open on November 19, 2024, aims to raise funds from UAE retail and international professional investors.

Talabat’s parent company, Delivery Hero, will be the sole seller of shares. The expected listing on DFM is slated for December 10, 2024.

The company plans a dividend payout policy that includes a minimum distribution of AED 100 million in April 2025, and AED 400 million in 2026.

Talabat’s leadership aims to continue its growth trajectory, building on its 2023 GMV of USD 6.1 billion and an annual growth rate of 24%.

Talabat’s CEO, Tomaso Rodriguez, highlighted the company's robust position in the MENA region, with over 65,000 partners and more than six million active customers across eight markets.

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