Markets Talabat to raise $2bn from IPO as price is finalised By Pramod Kumar November 29, 2024, 11:00 AM Wam Talabat drivers at a rest station. The company reported a 46 percent year-on-year increase in Q3 profits Share price at top of range DFM trading begins December 10 Dividend planned for April 2025 Germany’s Delivery Hero has set the price for the initial public offering (IPO) of Talabat, its Mena-based food delivery company, at the top of the range. The final IPO price was set at AED 1.60 ($0.44) per share, enabling the company to raise AED7.5 billion ($2 billion). Following strong investor demand, Talabat increased its IPO from 15 percent to 20 percent. The additional shares of 1.16 billion were allocated to professional investors in the second tranche. The shares are being sold by the sole shareholder, Delivery Hero Mena Holding GmbH, a wholly owned subsidiary of Frankfurt-listed Delivery Hero SE. Talabat reported a 46 percent year-on-year increase in third-quarter profits to $98 million, up from $67 million the previous year. The company, which operates in eight countries across the Middle East and North Africa, achieved higher profits due to a 23 percent year-on-year increase in gross transactions – a standard metric for delivery firms measuring the total value of all goods sold – to $1.92 billion. Talabat focusing on core markets ahead of listing, says CFO Three banks shortlisted for Talabat’s Dubai listing Delivery Hero reports Mena revenue surge Following the IPO, Talabat plans to pay a minimum dividend of AED367.25 million in April 2025. The company is targeting a minimum dividend of AED 1.5 billion in 2025, split into two payments in October 2025 and April 2026. Trading on the Dubai Financial Market is expected to commence by December 10.
