Talabat Set to Debut on the Dubai Financial Market: A Strategic IPO Move
Deal News | Nov 11, 2024 | Zawya
Talabat Holding plc, a leading on-demand online platform for food ordering, delivery, and retail services in the MENA region, has announced its plans to proceed with an Initial Public Offering (IPO) on the Dubai Financial Market (DFM). The Offering involves the sale of 3,493,236,093 existing shares held by Delivery Hero MENA Holding GmbH, a subsidiary of Delivery Hero SE, representing 15% of Talabat's total issued share capital. The subscription period is set from November 19 to November 28, 2024, targeting UAE Retail Investors and Professional Investors including a Shariah-compliance verification. With a strong financial standing and a robust growth record, Talabat aims to continue its regional expansion supported by its strategic IPO and ongoing investment plans. Talabat's leadership emphasizes its roots as a home-grown tech-driven enterprise with significant market presence across the UAE, Kuwait, and other countries, envisioning long-term growth through favorable socio-economic conditions.
Sectors
- Technology
- Food & Beverage
- Retail
- Financial Services
Geography
- United Arab Emirates – Talabat is planning an IPO on the Dubai Financial Market, and it operates extensively in the UAE market.
- MENA Region – Talabat is a leading player in the MENA region, serving multiple countries through its on-demand platforms.
Industry
- Technology – Talabat operates as a technology-driven platform offering online food ordering and retail services across the MENA region.
- Food & Beverage – Talabat's core services include food ordering and delivery, indicating its primary involvement in the Food & Beverage sector.
- Retail – Talabat's extension into grocery and convenience retail markets positions it within the broader Retail industry.
- Financial Services – The planned IPO and listing on the Dubai Financial Market involve financial activities like share offerings.
Financials
- 3,493,236,093 – Total shares to be offered in Talabat's IPO.
- AED 0.04 – Nominal value of each share to be offered.
- AED 931,529,625 – Total share capital of Talabat as per prospectus.
- AED 367.25 million – Minimum dividend amount planned for April 2025.
- USD 6.1 billion – Gross merchandise value (GMV) of Talabat in 2023.
- 24% – CAGR of Talabat between 2021-2023.
- USD 400 million – Total planned dividends for 2025 to be paid in two installments.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Talabat Holding plc | Target Company | Company | A leading MENA on-demand marketplace for food ordering, delivery, and retail services. |
| Delivery Hero MENA Holding GmbH | Selling Shareholder | Company | The subsidiary of Delivery Hero SE holding shares of Talabat to be sold in the IPO. |
| Delivery Hero SE | Parent Company | Company | A German public company owning Delivery Hero MENA and indirectly involved in Talabat's IPO. |
| Emirates NBD Bank PJSC | Shariah Compliance Advisor | Company | Provides the Shariah compliance pronouncement for Talabat's IPO. |
| Pieter-Jan Vandepitte | Chairperson | People | Chairperson of Talabat, overseeing strategic decisions related to the IPO. |
| Tomaso Rodriguez | CEO | People | Chief Executive Officer of Talabat leading its growth and public offering process. |