Delivery Hero Lists Talabat in Landmark 2024 IPO

Delivery Hero SE, a leading global delivery platform, has announced the listing of Talabat Holding plc on the Dubai Financial Market. This Initial Public Offering (IPO) is the largest in the global technology sector for 2024, raising approximately AED 7.5 billion, equivalent to around US$2 billion.

Talabat, a prominent delivery service in the Middle East and North Africa, saw its shares priced at the upper limit of AED 1.60. The public offering increased from 15% to 20% of the company's total share capital due to strong investor interest. Delivery Hero plans to maintain a majority ownership in Talabat.

With a reported Gross Merchandise Value of US$5.4 billion in the first nine months of 2024, Talabat experienced a 21% increase from the previous year. It serves over six million monthly active customers and partners with more than 65,000 businesses.