Talabat Holding plc (“Talabat”), the main on-line meals supply and comfort retail market within the MENA area, has introduced the worth vary and subscription interval for its preliminary public providing (IPO) on the Dubai Monetary Market (DFM).
Key Highlights
- Supply Value Vary: Set between AED 1.50 and AED 1.60 per share, translating to a market capitalization of roughly AED 34.93 billion to AED 37.26 billion (USD 9.51 billion to USD 10.15 billion).
- Shares Provided: 3,493,236,093 shares, representing 15% of Talabat’s whole issued share capital.
- Promoting Shareholder: Supply Hero MENA Holding GmbH, a subsidiary of Supply Hero SE, owns all shares supplied.
- Cornerstone Buyers: Emirates NBD AM SPC, Abu Dhabi Pension Fund, and Emirates Worldwide Funding Firm LLC have dedicated AED 918 million (USD 250 million) collectively.
- Subscription Interval: Opens at this time and closes on 27 November 2024 for UAE Retail Buyers and 28 November 2024 for Skilled Buyers.
- Itemizing Date: Buying and selling on DFM is anticipated to begin on or round 10 December 2024.
CEO Assertion
Tomaso Rodriguez, CEO of Talabat, acknowledged:
“We’re thrilled to launch Talabat’s IPO on the Dubai Monetary Market, welcoming buyers to hitch us as we proceed to develop within the MENA area. With a strong platform and an outlined progress technique, we’re assured this IPO will entice vital native and worldwide curiosity.”
IPO Particulars
The IPO features a public providing for UAE Retail Buyers and a Certified Buyers Providing for Skilled Buyers. Every UAE Retail Investor is assured a minimal allocation of 1,000 shares, whereas eligible staff can safe a minimal of 10,000 shares.
Cornerstone Buyers embrace:
- Emirates NBD AM SPC on behalf of UAE Strategic Funding Fund 5 SP: AED 514 million (USD 140 million).
- Abu Dhabi Pension Fund: AED 220 million (USD 60 million).
- Emirates Worldwide Funding Firm LLC: AED 184 million (USD 50 million).
Advisors and Receiving Banks
Emirates NBD Capital PSC is the Itemizing Advisor. Joint World Coordinators and Bookrunners embrace J.P. Morgan, Morgan Stanley, and Emirates NBD Capital PSC. Receiving banks embrace Emirates NBD, Dubai Islamic Financial institution, First Abu Dhabi Financial institution, and others.
Shariah Compliance
The IPO has been declared Shariah-compliant by Emirates NBD Financial institution’s Inside Shariah Supervision Committee. Buyers are suggested to carry out their very own due diligence.
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