BERLIN (dpa-AFX) - Delivery Hero SE (DHER.DE DLVHF.OB), a German food delivery platform, on Tuesday announced the listing of its delivery platform in the Middle East and North Africa region, Talabat Holding Plc., on the Dubai Financial Market to raise around United Arab Emirates Dirham or AED of 7.5 billion or $2 billion through an initial public offering.
The IPO was priced at AED 1.60 each, the top end of the proposed range. The public offering was also upsized from 15 percent to 20 percent of the company's total issued share capital.
For the first nine-month period of 2024, Talabat has posted a reported gross merchandise value of $5.4 billion, reflecting a 21 percent year-on-year increase.
As of September, Talabat had over 6 million monthly active customers, more than 65,000 active partners, and over 119,000 active riders.
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