Talabat Holding increases share offering for Dubai listing

The company will now offer 4.66 billion shares.

Talabat Holding plc (talabat) has increased the size of its initial public offering (IPO) for the sale of its shares on the Dubai Financial Market (DFM) due to a high demand.

The company will now offer 4.66 billion shares, equivalent to 20% of talabat’s total issued share capital.

This is up from 3.49 billion shares, representing 15% of the company’s total issued share capital.

This followed significant international and regional investor demand in the second tranche (qualified investor offering), including several sizeable anchor orders from global long-only and technology sector investors.

On 29 November, the final price for talabat’s IPO is set at US$0.44 (AED1.60), expected to raise US$2b (AED7.5b) in gross proceeds.

talabat is expected to list on DFM on 10 December.