Begin typing your search above and press return to search.
proflie-avatar
Login
exit_to_app
Champions Trophy tournament
access_time 21 Nov 2024 5:00 AM GMT
The illness in health care
access_time 20 Nov 2024 5:00 AM GMT
The fire in Manipur should be put out
access_time 21 Nov 2024 9:19 AM GMT
America should also be isolated
access_time 18 Nov 2024 11:57 AM GMT
Munambam Waqf issue decoded
access_time 16 Nov 2024 5:18 PM GMT
The betrayal of the highest order
access_time 16 Nov 2024 12:22 PM GMT
DEEP READ
Munambam Waqf issue decoded
access_time 16 Nov 2024 5:18 PM GMT
Ukraine
access_time 16 Aug 2023 5:46 AM GMT
Foreign espionage in the UK
access_time 22 Oct 2024 8:38 AM GMT
exit_to_app
Homechevron_rightMiddle Eastchevron_rightUAEchevron_rightTalabat prepares for...

Talabat prepares for share market debut with upcoming IPO

text_fields
bookmark_border
Talabat prepares for share market debut with upcoming IPO
cancel

Talabat, Dubai's popular food delivery service, announced expansion plans beyond a go-to app for residents. Its parent company, Delivery Hero SE, announced on Thursday that it plans to list Talabat on the Dubai Financial Market (DFM) by the fourth quarter of 2024.

"A listing may be pursued through a secondary sale of shares by Delivery Hero which would retain the majority interest in the local listing entity after an IPO," the German food delivery giant said in a statement. This move depends on the market conditions and the necessary regulatory approvals.

The news was well-received by investors, leading to a significant surge in Delivery Hero's shares, which climbed as much as 9 percent in Frankfurt. This increase is especially noteworthy given that the company’s shares had previously plummeted by around 85 percent from their January 2021 peak, a drop attributed to waning interest in food delivery stocks following the pandemic-driven boom.

Marie-Anne Popp, Delivery Hero's interim finance chief, expressed optimism about the listing, "We think it's a good time for us to be having regional investors participate in this business."

However, she did not disclose how the company plans to utilize the proceeds from the IPO.

Inputs from Reuters.

Show Full Article
TAGS:share marketIPOTalabatupcoming IPO
Next Story