Talabat Holding Announces IPO Price Range and Subscription Period on Dubai Financial Market

Talabat Holding plc (“Talabat”), the starring online nutrient transportation and convenience retail marketplace successful the MENA region, has announced the terms scope and subscription play for its archetypal nationalist offering (IPO) connected the Dubai Financial Market (DFM).

Key Highlights

• Offer Price Range: Set betwixt AED 1.50 and AED 1.60 per share, translating to a marketplace capitalization of astir AED 34.93 cardinal to AED 37.26 cardinal (USD 9.51 cardinal to USD 10.15 billion).
• Shares Offered: 3,493,236,093 shares, representing 15% of Talabat’s full issued stock capital.
• Selling Shareholder: Delivery Hero MENA Holding GmbH, a subsidiary of Delivery Hero SE, owns each shares offered.
• Cornerstone Investors: Emirates NBD AM SPC, Abu Dhabi Pension Fund, and Emirates International Investment Company LLC person committed AED 918 cardinal (USD 250 million) collectively.
• Subscription Period: Opens contiguous and closes connected 27 November 2024 for UAE Retail Investors and 28 November 2024 for Professional Investors.
• Listing Date: Trading connected DFM is expected to commence connected oregon astir 10 December 2024.

CEO Statement

Tomaso Rodriguez, CEO of Talabat, stated:

“We are thrilled to motorboat Talabat’s IPO connected the Dubai Financial Market, welcoming investors to articulation america arsenic we proceed to turn successful the MENA region. With a robust level and a defined maturation strategy, we are assured this IPO volition pull important section and planetary interest.”

IPO Details

The IPO includes a nationalist offering for UAE Retail Investors and a Qualified Investors Offering for Professional Investors. Each UAE Retail Investor is guaranteed a minimum allocation of 1,000 shares, portion eligible employees tin unafraid a minimum of 10,000 shares.

Cornerstone Investors include:

• Emirates NBD AM SPC connected behalf of UAE Strategic Investment Fund 5 SP: AED 514 cardinal (USD 140 million).
• Abu Dhabi Pension Fund: AED 220 cardinal (USD 60 million).
• Emirates International Investment Company LLC: AED 184 cardinal (USD 50 million).

Advisors and Receiving Banks

Emirates NBD Capital PSC is the Listing Advisor. Joint Global Coordinators and Bookrunners see J.P. Morgan, Morgan Stanley, and Emirates NBD Capital PSC. Receiving banks see Emirates NBD, Dubai Islamic Bank, First Abu Dhabi Bank, and others.

Shariah Compliance

The IPO has been declared Shariah-compliant by Emirates NBD Bank’s Internal Shariah Supervision Committee. Investors are advised to execute their ain owed diligence.

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