Leisure & Hospitality Talabat plans to list 15% on Dubai bourse via IPO By Pramod Kumar November 11, 2024, 10:44 AM Alamy via Reuters Talabat has more than 119,000 riders on its platform Talabat IPO begins November 19 First dividend due April 2025 More than 6 million customers Talabat Holding, a UAE-based online food ordering and delivery platform, plans to list 15 percent of its share capital on the Dubai Financial Market (DFM). Nearly 3.49 billion shares, each with a nominal value of AED 0.04, will be divested through the initial public offering. The shares will be offered by the sole shareholder, Delivery Hero Mena Holding GmbH, a wholly owned subsidiary of Frankfurt-listed Delivery Hero SE. The Talabat IPO subscription period runs from November 19 to 27 for UAE retail investors, and the professional investors’ tranche will open on November 28. The price range will be set through the book-building process. Trading on DFM is expected to commence by December 10. Following the IPO, Talabat plans to pay a minimum dividend of AED367.25 million in April 2025. For 2025, the company is targeting a minimum dividend of AED 1.5 billion, split into two payments in October 2025 and April 2026. High demand leads Lulu to upsize IPO stake to 30% OQ’s methanol unit is latest in Oman’s privatisation push Talabat profits soar ahead of planned IPO Subsequently, Talabat aims to pay dividends twice annually, with an interim payout in October and a final payout in April, each targeting 90 percent of net income. The company’s gross merchandise value stood at $6 billion in 2023, a 24 percent compound annual growth rate between 2021 and 2023, and adjusted free cash flow of over $300 million in 2023, said CEO Tomaso Rodriguez. “Our medium-term outlook reflects multiple growth levers and favourable socioeconomic conditions,” he said. As of September, Talabat serves more than 6 million customers, with more than 65,000 restaurants, grocery and retail partners, and has more than 119,000 riders on its platform.
