Today, Talabat Holding plc (also known as Talabat or the Company) announced the start of the subscription period for its initial public offering (IPO or the “Offering”) on the Dubai Financial Market (DFM) as well as the price range for the sale of its shares (the Shares, each a Share) (the Offer Price Range).
The market capitalization at the time of listing is estimated to be between Dhs 34.93 billion (about US$ 9.51 billion) and Dhs 37.26 billion (around US$ 10.15 billion), with the offer price range set between Dhs 1.50 and Dhs 1.60 per share. The Offering will make available 15% of the Company’s total issued share capital, or 3,493,236,093 Shares.
All of the shares up for sale are already owned by Delivery Hero MENA Holding GmbH, the firm’s only shareholder and a wholly-owned subsidiary of Delivery Hero SE, also known as “Delivery Hero,” a publicly traded company on the Frankfurt Stock Exchange.
With a combined commitment of over AED 918 million (US$ 250 million), Emirates NBD AM SPC, acting on behalf of the UAE Strategic Investment Fund 5 SP (“UAE SIF”), Abu Dhabi Pension Fund (“ADPF”), and Emirates International Investment Company LLC (“EIIC”) will be the IPO’s cornerstone investors.
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