BATAMHEADLINE – Talabat, a leading on-demand food ordering, delivery, takeaway, and groceries marketplace in the Middle East and North Africa (MENA) region, is set to make a significant move by launching an initial public offering (IPO) on the Dubai Financial Market (DFM). This IPO will see Talabat offering 15% of its total issued shares to the public, marking a pivotal moment in its growth journey.
IPO Details
The IPO will involve the offering of 3,493,236,093 shares, each with a nominal value of AED 0.04. The subscription period for UAE retail investors will open on November 19, 2024, and close on November 27, 2024, while professional investors will have until November 28, 2024. The shares are expected to be listed on the DFM around December 10, 2024.
Financial Performance
Talabat has shown impressive financial performance, with a Gross Merchandise Value (GMV) of AED 19.8 billion and a proposed dividend of AED 367 million for Q4 2024. The company aims to pay a minimum dividend of approximately $100 million in April 2025 and $400 million in two installments in October 2025 and April 2026.
Market Prospects
The IPO is expected to value Talabat between $9 billion and $12 billion, potentially raising over $1 billion. This valuation reflects Talabat’s strong position in the MENA region, with over 6 million active customers and more than 65,000 partners. The company’s robust growth track record and technological innovation are key factors driving its market prospects.
Talabat’s IPO represents a significant milestone for the company and the MENA region’s tech industry. With its strong financial performance, market leadership, and strategic growth plans, Talabat is well-positioned to capitalize on the opportunities presented by the IPO. Investors and stakeholders can look forward to a promising future as Talabat continues to expand and innovate in the delivery and quick commerce space.
