Talabat, a leading food delivery startup in the MENA region, a subsidiary of German foodtech major Delivery Hero is gearing up for its IPO in Dubai – offering 3.49 billion shares to raise over $1 billion – making it one of the UAE’s largest listings this year. The company plans to list 15 percent of its UAE-based subsidiary. A total of 3,493,236,093 shares, each with a nominal value of Dh0.04, will be made available in the offering.
The offering opens to UAE retail investors from November 19-27 and to professional investors on November 28, signaling strong international interest. With major financial institutions like Emirates NBD Capital, J.P. Morgan, and Morgan Stanley at the helm, this IPO marks Talabat’s growth from its 2004 beginnings in Kuwait to a regional powerhouse. The IPO is seen as a stable investment in the burgeoning food delivery sector. Raising a billion dollars highlights Talabat’s formidable role in regional markets and bold future ambitions.
Talabat has operations in the UAE, Kuwait, Qatar, Bahrain, Egypt, Oman, Jordan, and Iraq. According to the company, as of September, Talabat’s platform recorded over six million active customers, over 65,000 active restaurants, other groceries, and retail vendors, as well as about 119,000 active riders.
