Dubai’s leading food delivery platform Talabat has expanded its Initial Public Offering (IPO) size from 15% to 20% of its total issued share capital, responding to substantial investor demand. The company announced on Wednesday that the offering on the Dubai Financial Market (DFM) has grown to 4.66 billion shares, up from the initial 3.5 billion shares.
Key Financial Details
The price range for the shares remains stable at Dh1.50 to Dh1.60 per share. With the increased offering size, Talabat stands to raise between Dh7 billion and Dh7.5 billion, marking a significant milestone in Dubai’s financial sector.
Strategic Allocation
The additional 1.16 billion shares have been exclusively allocated to professional investors in the second tranche. This strategic decision follows remarkable interest from both international and regional investors, including substantial anchor orders from global long-term investors and technology sector specialists.
Important Dates
- First Tranche: Subscription period ran from November 19 to November 27
- Second Tranche: Subscription closes on November 28
Market Impact
This expansion demonstrates the robust appetite for technology sector investments in the UAE market. The strong investor response, particularly from global long-only and technology sector investors, highlights Dubai’s growing appeal as a destination for major tech listings.
Investment Significance
The increased offering size positions Talabat’s IPO as a significant development in the Middle East’s technology sector. This move aligns with Dubai’s strategy to enhance its financial markets and attract international investment.
This article reflects market conditions and developments as of the announcement date. Investors should conduct their own research and consider market conditions before making investment decisions.
JobXDubai 
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