Talabat Holding PLC, the MENA area’s main on-demand meals, grocery, and retail supply market, has introduced its intention to drift on the Dubai Monetary Market (DFM) by way of an preliminary public providing (IPO). The corporate will make obtainable 3.49 billion shares, representing 15% of its whole capital, with all shares being provided by sole shareholder Supply Hero MENA Holding GmbH, a subsidiary of Germany’s Supply Hero SE.
Key Providing Particulars:
- Share Providing: 3,493,236,093 shares with a nominal worth of AED 0.04 per share.
- Investor Entry: Shares will probably be obtainable for UAE Retail Traders, together with eligible staff, and Skilled Traders outdoors the U.S.
- Subscription Interval: Opens on 19 November 2024 and closes on 27 November 2024 for retail traders and 28 November for skilled traders.
- Pricing: Supply worth will probably be set by way of a book-building course of.
- Shariah Compliance: Emirates NBD Financial institution’s Shariah Committee has confirmed the providing’s compliance with Shariah rules.
The IPO itemizing on DFM is anticipated to happen on or round 10 December 2024.
Capital Construction and Dividend Coverage
Talabat’s share capital is AED 931.5 million, divided into over 23 billion shares. Following the IPO, the corporate plans to distribute a minimal dividend of AED 367.25 million in April 2025, with additional funds totaling AED 1.469 billion in 2025 and 2026. Talabat’s dividend coverage targets a payout of 90% of web revenue, balancing returns to shareholders with reinvestment for progress.
Management Insights
Chairperson Pieter-Jan Vandepitte expressed enthusiasm for the milestone, highlighting Talabat’s strategic place and progress pushed by Supply Hero’s experience since 2015. CEO Tomaso Rodriguez mirrored on Talabat’s transformation since its inception in Kuwait in 2004, now serving over six million month-to-month clients with a robust monetary profile and a GMV of USD 6.1 billion in 2023.
Firm Overview
Working in eight MENA nations, Talabat connects over six million lively customers, 65,000 companion eating places, and 119,000 riders, providing each meals and retail supply. By way of its tech-powered logistics, Talabat optimizes buyer expertise throughout its numerous supply providers, from groceries to home goods.
This IPO marks a brand new chapter for Talabat because it solidifies its management within the MENA market and opens funding alternatives for regional and worldwide stakeholders.
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