The price range has been set between Dh1.50 ($0.41) and Dh1.60 ($0.44) per share, positioning the home delivery giant with a market valuation of AED 34.93 billion to AED 37.26 billion ($9.51 billion to $10.15 billion) upon listing.
The offering includes 3.49 billion shares, representing 15% of the company’s total issued share capital. Based on the price range, the IPO size is expected to range between AED 5.24 billion ($1.43 billion) and AED 5.59 billion ($1.52 billion). All shares are being sold by Delivery Hero, Talabat’s sole shareholder, listed on the Frankfurt Stock Exchange.
To bolster the IPO’s momentum, anchor investors including the UAE Strategic Investment Fund, the Abu Dhabi Pension Fund, and Emirates International Investment Company have committed $250 million.
The subscription period for retail investors in the UAE begins today, November 19, and ends on November 27, while professional investors have until November 28. The final offer price will be determined through a book-building process and is set to be announced on November 29. Trading on the DFM is expected to commence on December 10.
Founded in Kuwait in 2004, Talabat has grown into a regional powerhouse, connecting over 65,000 restaurants and grocery stores with more than six million active customers across eight countries in the Middle East and North Africa. In 2022, the platform recorded a gross merchandise value of €5 billion ($5.6 billion).
