Talabat prepares for Dubai listing amid UAE IPO boom

Delivery Hero, the Germany-based food delivery platform, is preparing to list share of its UAE subsidiary Talabat on the Dubai bourse, as it looks to capitalise on the continued economic momentum and listing boom in the Emirates this year.
The Frankfurt-listed Delivery Hero is “preparing” for the initial public offering of Talabat on the Dubai Financial Market in the fourth quarter of this year, Talabat said in a statement on Thursday.
The Berlin-based parent will sell existing shares in its Emirati subsidiary, it said without giving the size of the potential public float or the use of its proceeds.
“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 IPO,” Delivery Hero said in a separate bourse filing on Thursday.
Talabat, the on-demand food and quick-commerce app, said its IPO remains subject to regulatory approvals and market conditions. The company and its parent will update the market regarding the progress on the potential listing.
More to follow …