Talabat’s Initial Public Offering (IPO) has commenced on the Dubai Financial Market (DFM), with shares being covered within minutes of opening.
IPO Key Details
Offering Structure
- Share price range: Dh1.50 to Dh1.60
- Total shares offered: 3,493,236,093
- Percentage of company: 15% of total issued share capital
- Expected market value: Dh34.93-37.26 billion (US$9.51-10.15 billion)
Important Dates
- Retail investor subscription: Until November 27, 2024
- Professional investor subscription: Until November 28, 2024
- Final price announcement: November 29, 2024
- Expected listing date: December 10, 2024
Financial Overview
Offering Size
- Minimum: Dh5.24 billion (US$1.43 billion)
- Maximum: Dh5.59 billion (US$1.52 billion)
Leadership Statement
Tomaso Rodriguez, Talabat CEO, stated: “We are delighted to open subscriptions today for the talabat IPO on Dubai Financial Market (DFM) having seen strong local and international investor interest since announcing our intention to float.”
Participating Banks and Advisors
Lead Advisors
- Listing Advisor: Emirates NBD Capital PSC
Joint Global Coordinators
Lead Receiving Bank
Emirates NBD Bank PJSC
Additional Receiving Banks
- Abu Dhabi Commercial Bank PJSC
- Abu Dhabi Islamic Bank PJSC
- Al Maryah Community Bank LLC
- Dubai Islamic Bank PJSC
- Emirates Islamic Bank PJSC
- First Abu Dhabi Bank PJSC
- Mashreq Bank PSC
- Wio Bank PJSC
Shariah Compliance
The Internal Shariah Supervision Committee of Emirates NBD Bank PJSC has confirmed the offering’s compliance with Shariah principles. Investors are advised to conduct their own due diligence.
Investment Considerations
- Strong market position
- Significant growth potential
- Professional management team
- Strategic market timing
- Robust financial outlook
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