Dubai – Mubasher: Talabat Holding has set the price range for its initial public offering (IPO) on the Dubai Financial Market (DFM) between AED 1.50 and AED 1.60 per Share.
The IPO is set to imply a market capitalisation at the time of listing of between nearly AED 34.93 billion ($9.51 billion) and around AED 37.26 billion ($10.15 billion), according to a press release.
Talabat plans to offer 3.49 billion shares, representing 15% of the company’s total issued share capital.
The IPO subscription period will close on 27 November for UAE retail investors and on 28 November for professional investors.
The final offer price is expected to be announced on 29 November 2024. Admission of the shares for trading on DFM is forecast to take place on or around 10 December 2024.
Tomaso Rodriguez, CEO of talabat, commented:“talabat was founded in the Middle East in 2004 and today we have over 65,000 restaurants and grocery businesses across our eight MENA countries and over six million active customers using our platform.”
“Our well-defined growth strategy is focused on enhancing our product offering and increasing our market penetration, investing in our innovative FinTech and loyalty programmes, scaling our advertising offerings and exploring adjacent categories, which we believe presents an exciting opportunity for investors,” Rodriguez added.
