The Talabat shares should be admitted to trading by mid-December, the company announced. The public offering and listing were approved by the United Arab Emirates Securities and Exchange Commission last Thursday, and details will be published on Talabat’s website on Monday. Private placements to institutional investors would be carried out on the basis of a corresponding international offering prospectus, which would also be published on Talabat’s website at the beginning of the bookbuilding process.
Delivery Hero will observe a lock-up period of 180 days from the start of the stock market listing and will continue to consolidate Talabat in the consolidated financial statements.
Delivery Hero wants to use the proceeds, which depend on the number of shares and the price, for general corporate purposes and to optimize the capital structure. Currently, after the targeted IPO, Talabat plans to pay a minimum dividend of approximately $100 million in April 2025 with respect to the Q4 2024 financial results and a minimum dividend of approximately $400 million in two parts in October 2025 and April 2026 on the financial results for the 2025 financial year. Talabat then intends to make two dividend payments per calendar year, each with a targeted payout of 90 percent of the net profit.
According to Delivery Hero, the implementation of the intended IPO is still subject to market conditions and further resolutions by the Executive Board and the Supervisory Board of Delivery Hero.
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