Here is the summary of the article:
Delivery Hero, a German-based food delivery service, is set to pursue an initial public offering (IPO) of 15% of Talabat Holding, its Middle Eastern subsidiary, on the Dubai Financial Market (DFM). The IPO is expected to be worth over $1 billion, making it one of the largest in the United Arab Emirates this year1.
The IPO is scheduled to take place from November 19 to 27, with the aim of listing Talabat's shares by mid-December 20241. Delivery Hero intends to sell 3.49 billion Talabat shares, representing 15% of the subsidiary's shares1. The offering could be a significant event for both companies, potentially bringing increased liquidity and investor interest to Talabat Holding, and benefiting Delivery Hero's own stock value as well2.
The IPO plans have given Delivery Hero's shares a boost in pre-market trading, indicating positive market sentiment2. Analysts expect the IPO to be lively, with Talabat's business having shown above-average growth in the past quarter1. However, as with any IPO, market conditions and investor sentiment could influence the final outcome.
Overall, the IPO represents a significant development for both Delivery Hero and Talabat Holding, with the potential to enhance their market positions and financial prospects.
11/11/2024 12:05am
