Meed | Talabat to list on Dubai exchange

Talabat to list on Dubai exchange

30 August 2024

Berlin-headquartered and Frankfurt Stock Exchange-listed Delivery Hero has announced it is preparing a listing of its Talabat business on the Dubai Financial Market in the further quarter of 2024.

"A listing may be pursued through a secondary sale of shares by Delivery Hero which would retain the majority interest in the local listing entity after an initial public offering (IPO)," Delivery Hero said in a statement on 29 August.

Talabat is a food delivery and quick commerce business operating across the Middle East and North Africa (Mena) region.

Delivery Hero added that the execution of an IPO remains "subject to market conditions, the approval of a securities prospectus by the Securities and Commodities Authority of the UAE and further resolutions of the management board and supervisory board of Delivery Hero".

Founded in 2004, Talabat is one of the region's largest food delivery and grocery platforms, with operations in Kuwait, the UAE, Qatar, Egypt, Oman, Bahrain and Jordan.

Delivery Hero acquired the startup in 2015 and now operates in more than 40 countries. It also partners with over 500,000 restaurants, according to its website.

Photo credit: Delivery Hero

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Jennifer Aguinaldo