Beginning of listing and trading Talabat shares on the Dubai Financial Market

Today, Tuesday, the Dubai Financial Market welcomed the successful listing of Talabat Holding PLC, the leading market platform for online ordering, in the Middle East and North Africa region, and Talabat begins trading its shares under the symbol TALABAT.

Delivery Hero SE, the selling shareholder and public company listed on the Frankfurt Stock Exchange, will retain a majority stake in Talabat.

The proceeds from Talabat’s initial public offering reached 7.5 billion dirhams (about $2.0 billion) through the inclusion of 20% of the total issued shares in the company’s capital.

Thus, it will be the largest initial public offering for a technology company in the world in 2024, the largest initial public offering in the Gulf Cooperation Council countries this year, and the first ever initial public offering for a company operating in the technology sector on the Dubai Financial Market.

The final offering price for the company’s shares was set at 1.60 dirhams per share, i.e. at the upper limit of the announced price range, and attracted great demand from local, regional and international investors.

The group of key investors participating in Talabat’s IPO included Emirates NBD Asset Management Company on behalf of the Emirates Strategic Investment Fund, Abu Dhabi Retirement Fund, and Emirates International Investment Company, reflecting the strong level of confidence in the company’s future growth potential.

The offering also witnessed many large subscription requests from international investors in the fields of technology and long-term investments, knowing that many of them are investing for the first time in the Dubai Financial Market.

Talabat IPO is the third listing on the Dubai Financial Market during the year 2024, which contributes to enhancing Dubai’s attractiveness as a global center for capital markets and consolidating the position of the thriving system that the Dubai Financial Market provides to attract companies.

It is noteworthy that Talabat currently operates in eight markets: the United Arab Emirates, Kuwait, Qatar, Bahrain, Egypt, Oman, Jordan, and Iraq. In September 2024, the Talabat platform recorded more than 6 million active customers, more than 65,000 active restaurants, grocery and other retail suppliers, and more than 119,000 active delivery drivers.