Dubizzle Group has announced plans to offer a 30.34 percent stake through an initial public offering (IPO) on the Dubai Financial Market (DFM), setting the stage for one of the largest tech listings in the UAE this year. The move marks a new phase in the company’s regional expansion and financial growth strategy.
Imran Ali Khan, CEO of Dubizzle Group, said:
“This IPO marks an exciting new chapter for Dubizzle Group. By welcoming a broader shareholder base, we are positioning the Group to accelerate growth, deepen our presence in the markets where we operate, and create long-term value for our users, clients, employees, and shareholders alike.”
The offering will comprise 1.25 billion ordinary shares, representing just over 30 percent of the company’s post-offer capital. Once listed, Dubizzle Group will have 4.12 billion shares outstanding.
Financial Turnaround and Growth Prospects
Subscription for both retail and institutional investors opens on October 23 and closes on October 29, with the final offer price set to be announced on October 30. Shares will be allocated and confirmed by November 4, and trading is expected to begin on November 6, 2025.
Dubizzle’s recent financials indicate a strong turnaround. Revenue rose to $222 million in 2024, up from $220.8 million in 2023 and $197.7 million in 2022. For the first half of 2025, the company recorded $133 million, a notable jump from $105 million in the same period last year.
Losses have narrowed significantly—from $126.6 million in 2022 to $47.4 million in 2023, and $8.9 million in the first half of 2025. Adjusted net profit reached $15.4 million in 2024 and $14 million in H1 2025, excluding one-off costs and share-based payments.
According to the company’s IPO notice, Dubizzle is targeting near-term profitability, driven by its robust UAE operations and partially offset by ongoing investments in Saudi Arabia and other MENA markets.
Shareholding, Management, and Advisory Team
Following the IPO, OLX B.V., a subsidiary of Prosus N.V., will remain the largest shareholder with 37.95 percent ownership. Prosus has also committed to invest $100 million in the offering. Other key investors include Kingsway Frontier Consumer Internet Fund (11.01%), KCK Ventures III Ltd (14.02%), and Affinity Partners Funds (10.7% combined).
Founders Imran Ali Khan (4.29%), Zeeshan Ali Khan (1.23%), and Ha Mim Foundation (1.67%) will retain minority stakes. The company’s board is chaired by Nael Karim Kassar, with Imran Ali Khan serving as vice chairman.
The IPO is being managed by a consortium of major banks, including Emirates NBD Capital, Abu Dhabi Commercial Bank (ADCB), HSBC Bank Middle East, and EFG Hermes UAE.
Dubizzle Group, which operates popular platforms such as dubizzle and Bayut, continues to expand across the UAE and the wider MENA region. The listing will not only broaden its investor base but also establish its first public market valuation under DFM regulations — a milestone for one of the region’s fastest-growing digital platforms.
