Talabat Holding sets IPO price range for Dubai listing
The price range has been set between US$0.41 and US$0.44 per share.
Talabat Holding plc (talabat) has announced the price range for the sale of its shares and the start of the subscription period for its initial public offering (IPO) on Dubai Financial Market (DFM).
The price range for the offering has been set between US$0.41 (AED 1.50) and US$0.44 (AED 1.60) per share.
“With the region also experiencing favourable socioeconomic conditions with a large and growing addressable market, we look forward to welcoming new shareholders to join us on our journey,” said Tomaso Rodriguez, CEO of talabat.
The total offering size is expected to be between US$1.43b (AED5.24b) and US$1.52b (AED5.59b), and the final offer price will be determined through a bookbuilding process and is expected to be announced on 29 November.
A total of 3.49 billion shares will be made available in the offering, representing 15% of the company’s total issued share capital.
The IPO subscription period is now open and will close on 27 November for UAE retail investors and on 28 November for professional investors.
Each successful subscriber in the first tranche other than eligible employees will be guaranteed a minimum allocation of 1,000 shares, and each eligible employee will be guaranteed a minimum allocation of 10,000 shares.
The completion of the offering and admission is expected to take place on or around 10 December, subject to market conditions and obtaining relevant regulatory approvals in the UAE, including approval of admission to listing and trading on DFM.
