Talabat has announced the successful completion of the bookbuild and public subscription process for its initial public offering on the Dubai Financial Market. The Final Offer Price has been set at Dh1.60 per share, at the top end of the previously announced Offer Price Range, raising offer proceeds of Dh7.5 billion.
Talabat confirms the offering size of 4,657,648,125 shares, equivalent to 20 per cent of the company’s total issued share capital. As announced on November 27, 2024, the total offering size was increased during the book-building period to accommodate significant demand from international, regional and local investors.
The offering achieved a double-digit oversubscription level, with a number of sizeable anchor orders from global long-only investors and technology sector specialists.
Tomaso Rodriguez, Chief Executive Officer of talabat, said, “Having raised Dh7.5 billion and attracted a double-digit oversubscription level, it is clear that talabat’s offering presented both international and local investors with a unique opportunity to gain exposure to a leading player in Mena’s technology-driven and dynamic on-demand delivery market.
Based on the final offer price, talabat’s market capitalisation upon listing will be Dh37.3 billion ($10.1 billion). Investors who subscribed through the First Tranche will receive an SMS confirmation of their respective allocation on December 6, 2024, with refunds due to commence from the same date.
Source: www.khaleejtimes.com