Talabat has successfully finished the book-building and public subscription process for its Initial Public Offering (IPO) on the Dubai Financial Market. The Final Offer Price has been set at Dh1.60 per share, the highest point of the previously announced price range, raising a total of Dh7.5 billion.
The offering includes 4,657,648,125 shares, which make up 20% of the company’s total issued share capital. On November 27, 2024, Talabat announced an increase in the offering size during the book-building phase to meet strong demand from investors worldwide, including international, regional, and local participants.
The IPO achieved a double-digit oversubscription, reflecting significant interest from major global investors, long-term equity managers, and specialists in the technology sector.
Tomaso Rodriguez, CEO of Talabat, stated:
“Raising Dh7.5 billion and achieving a double-digit oversubscription shows that Talabat’s offering provides both local and global investors with an exceptional opportunity to invest in a top player in the MENA region’s fast-growing, tech-driven on-demand delivery market.”
After the IPO, Talabat’s market value will stand at Dh37.3 billion ($10.1 billion). Investors in the First Tranche will receive SMS confirmations of their allocations on December 6, 2024, with refunds starting on the same date.
