Talabat, situated in Dubai, intends to distribute a minimum dividend of about $100 million in April 2025 following the IPO, as stated in the announcement.
Talabat, the Middle Eastern subsidiary of Delivery Hero, will be listed on the Dubai Stock Exchange in mid-December, offering 15% of its outstanding shares, as announced by its German parent company on Sunday. This would constitute one of the largest IPOs in the UAE this year.
Delivery Hero, a food delivery firm located in Berlin, acquired a majority investment in Talabat in 2015 and said on Sunday that it will maintain a majority stake following the IPO.
Talabat, headquartered in Dubai, intends to distribute a minimum dividend of about $100 million in April 2025 following the IPO, as stated in the announcement.
According to a report by Reuters earlier this week, the largest meal ordering enterprise in the Middle East may offer shares valued at over $1 billion.
Established in 2004 in Kuwait, Talabat has subsequently broadened its reach to service clients in the UAE, Oman, Qatar, Bahrain, Jordan, Iraq, and Egypt, boasting over six million active consumers as of the end of July, according to corporate data.