UAE – Leading on-demand food delivery platform Talabat Holding PLC has announced its intention to move forward with an initial public offering (IPO) and list its ordinary shares for trading on the Dubai Financial Market (DFM).

Talabat Holding plc has outlined key details regarding its planned initial public offering (IPO).

A total of 3,493,236,093 shares, each with a nominal value of AED 0.04 (US$ 0.011), will be offered, representing 15% of the company’s total issued share capital.

All shares offered will be existing shares held by the company’s sole shareholder, Delivery Hero MENA Holding GmbH, a wholly owned subsidiary of Delivery Hero SE, a German public company listed on the Frankfurt Stock Exchange.

The IPO will be open to UAE retail investors, including eligible employees of Talabat, as part of the UAE Retail Offering or First Tranche.

Additionally, it will be available to professional investors outside the United States, including the UAE, as part of the Qualified Investor Offering or Second Tranche.

The subscription period will begin on November 19 and run until November 27 for UAE retail investors, with a deadline of November 28 for professional investors.

The shares are expected to be admitted for trading on the Dubai Financial Market (DFM) around 10 December 2024.

After the offering, the company plans to distribute a minimum dividend of AED 367.25 million (US$ 100 million) in April 2025 based on the financial results for the fourth quarter of 2024.

It also aims to pay a minimum dividend of AED 1.469 billion (US$ 400 million) in two installments, one in October 2025 and another in April 2026, based on the financial results for the year ending December 31, 2025.

Following these initial distributions, Talabat plans to implement a semi-annual dividend policy, with interim payments in October based on the first-half financial results and a second payment in April the following year, based on full-year results.

The target payout will be 90% of net income. The company’s dividend policy reflects expectations of strong cash flow and long-term earnings potential, while retaining enough capital to support ongoing operations and long-term growth initiatives.

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