TALABAT, the Middle East business of Delivery Hero, will list on the Dubai Stock Exchange in mid-December, floating 15 per cent of its issued shares, its German parent said on Sunday (Nov 10), in what will be one of the UAE’s biggest initial public offerings (IPOs) this year.
Berlin-based food delivery company Delivery Hero bought a majority stake in Talabat in 2015 and said on Sunday that it would retain a majority stake after the IPO.
Dubai-based Talabat plans to pay a minimum dividend of about US$100 million in April 2025 after the IPO, according to the statement.
The largest food ordering business in the Middle East could sell stock worth more than US$1 billion, Reuters reported earlier this week.
Founded in 2004 in Kuwait, Talabat has since expanded to serve customers in the UAE, Oman, Qatar, Bahrain, Jordan, Iraq and Egypt, with over six million active customers as at the end of July, according to company data. REUTERS
