Talabat raises size for IPO on DFM due to growing demands - Mubasher Info

Dubai – Mubasher: Talabat Holding increased its size for its initial public offering (IPO) on the Dubai Financial Market (DFM) following international and regional investor demand in the second tranche.

The Securities and Commodities Authority of the UAE (SCA) approved the raise, under which the selling shareholder will offer 4.65 billion shares, equivalent to 20% of talabat’s total issued share capital.

The offering size was increased from 3.49 billion, representing 15% of the company’s total issued share capital, according to a press release.

The additional 1.16 billion offer shares have been wholly allocated to the qualified investor offering, which is restricted to professional investors as defined in the UAE prospectus.

Based on the unchanged offer price range and assuming all the shares in the offering are sold, the size of the IPO is expected to be between AED 7 billion ($1.90  billion) and AED 7.5- billion ($2 billion).

The IPO subscription period opened on 19 November and will close on 27 November for UAE retail investors and on 28 November for professional investors. The final offer price will be announced on 29 November 2024.

Source: Mubasher Source: {{details.article.source}}