Talabat shares jumped 7.5% in the first minutes of trading on the Dubai Financial Market

The shares of Talabat Holding PLC, the platform operating in the market for online orders, recorded an increase of about 7.5%, in the first minutes of its first trading session on the Dubai Financial Market, to reach 1.72 dirhams per share.

By 10:05 am Dubai time during Tuesday’s trading, Talabat’s stock rose by 7.5%, occupying second place among the rises in the Dubai Financial Market, reaching 1.72 dirhams per share, compared to the final public offering price of 1.60 dirhams.

During this period of today’s session, the company’s shares topped the trading values ​​and volumes at about 219.26 million dirhams through the trading of about 372.72 million shares.

Today, Tuesday, the Dubai Financial Market witnessed the listing and start of trading of Talabat Holding PLC shares, whose market value upon listing reached approximately 37.26 billion dirhams, based on the subscription price that was determined.

The delivery services company raised about 7.5 billion dirhams from the initial public offering of a 20% stake in its shares, which began on November 19 and ended on the twenty-seventh of the same month. The huge demand from international, regional and local investors led to the subscription exceeding the target value ten times.

The selling shareholder, Delivery Hero MENA Holding, a wholly-owned subsidiary of Delivery Hero SE, the German public company listed on the Frankfurt Stock Exchange, will retain an 80% stake in it.


It is noteworthy that Bloomberg Intelligence previously estimated the institutional value of Talabat at more than 5.4 billion euros ($6 billion), while RBC Capital Markets estimates the value of Delivery Hero’s business in the Middle East and North Africa region. At €5 billion, indicating a valuation of 1.3 times enterprise value compared to revenues.

Huge opportunities

In turn, Sarah Hosni, CEO of Aspire Consulting, which is based in Abu Dhabi, explained to Emirates Today that the initial listings in the local financial markets, including Talabat, open the door to tremendous opportunities for family and local companies in the Emirates to develop their businesses. Enhancing its presence through its operational work, and aligning with the country’s advanced economic vision.

She added that listing on the financial markets enables companies to raise the target size of capital through public offering, which can be invested in expansion, restructuring debts, implementing new projects, and expanding into new markets.

She indicated that there are several main reasons that push local companies in the non-oil sector in the Emirates and family-owned companies to think about listing and trading in the local financial markets, which are the successful experiences achieved by recent public offerings.

It is noteworthy that Talabat’s $2 billion initial public offering is the largest in the Middle East and the largest listing in the technology sector in the world this year, and could contribute to launching a new chapter in the emirate’s efforts to encourage the listing of private companies.

The start of trading on Talabat will also be closely followed by other companies, including the operator of the classifieds website Dubizzle, the owner of the Al Fakher tobacco brand, and the hotel operator Five Holdings, who are all considering selling shares. The start of trading on Talabat can also be considered a benchmark for government-owned companies that are now preparing for listing.