Food delivery leader Talabat has increased its Initial Public Offering (IPO) size from 15% to 20% of its total issued share capital. This expansion, announced on Wednesday, reflects robust investor interest, both regionally and globally.
The IPO on the Dubai Financial Market now includes 4.66 billion shares, a significant rise from the original 3.5 billion shares offered. The price range remains unchanged at Dh1.50 to Dh1.60 per share. If fully subscribed, Talabat could raise between Dh7 billion and Dh7.5 billion through the offering.
Professional Investors Favoured
The additional tranche of approximately 1.16 billion shares has been allocated solely for professional investors. Talabat cited strong international and regional interest in the second tranche, which includes anchor orders from prominent global investors, particularly those in the technology and long-only investment sectors.
Retail investors had until November 27 to subscribe to the first tranche, while the second tranche, targeting professional investors, will remain open until November 28.
Market Confidence and Future Impact
Talabat’s IPO increase demonstrates its confidence in the UAE’s growing appeal to global financial markets. This move not only highlights the company’s robust position in the food delivery sector but also strengthens its standing on the Dubai Financial Market.
The expansion of the IPO aligns with Talabat’s strategy to leverage market enthusiasm while promoting liquidity and growth. The company continues to attract investor confidence through innovation and sustained market leadership.
