Talabat Holding PLC today announced the price range for the IPO shares and the start of the subscription period for the initial public offering on the Dubai Financial Market..
The price range for the tender shares was set between 1.5 and 1.6 dirhams per share, which means that the company’s market value when listed will be between 34.93 billion dirhams (about 9.51 billion dollars) and 37.26 billion dirhams (about 10.15 billion dollars)..
3,493,236,093 shares of common stock will be sold, representing 15% of the total issued shares in the company’s capital. All the shares offered for sale are outstanding shares owned by the company’s sole shareholder, namely Delivery Hero MENA Holding Limited Liability Company (the selling shareholder ), which is a wholly owned subsidiary of Delivery Hero SE, the public company listed on the Frankfurt Stock Exchange. ..
Emirates NBD Asset Management Company, on behalf of the UAE Strategic Investment Fund, the Abu Dhabi Retirement Fund, and Emirates International Investment LLC, are participating as lead investors in the IPO, with total commitments of approximately 918 million dirhams ($250 one million)..
The subscription period for the initial public offering begins today and ends on November 27, 2024 for individual investors in the United Arab Emirates and on November 28, 2024 for professional investors..
The final offer price will be determined through a book building process and is expected to be announced on 29 November. after obtaining the relevant regulatory approvals in the United Arab Emirates, including permission to list and trade on the Dubai Financial Market.
Tommaso Rodriguez, CEO of Talabat, said that today the company announced the opening of subscriptions for the initial public offering on the Dubai Financial Market, after we have seen great interest from local and international investors since the announcement they are the tender intention..
Tommaso said Talabat was founded in the Middle East in 2004, and today our platform is used by more than 65,000 restaurants and grocery stores in eight countries across the Middle East and Africa. North, and more than six million active customers..
Emirates NBD Capital has been appointed as the listing advisor. Emirates NBD Capital, JP Morgan Securities PLC and Morgan Stanley & Co. International PLC have also been appointed as global coordinators and joint booksellers..
Abu Dhabi Commercial Bank, Barclays Bank PLC, EFG Hermes UAE, First Abu Dhabi Bank, Goldman Sachs Europe SE, ING Bank and UniCredit Bank LLC have been appointed as joint bookrunners..
Emirates NBD Bank was named as the main receiving bank, while Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, Al Mariah Local Bank, Dubai Islamic Bank, Emirates Islamic Bank, First Abu Dhabi Bank, Mashreq Bank, and U Bank were named as consignors – get. banks..
The Emirates NBD Sharia Internal Audit Committee issued statements confirming that the offer, from their perspective, is in accordance with the principles of Islamic Sharia. Investors must do their own due diligence to ensure that the offer is in accordance with Islamic Sharia principles for their own purposes..
2024-11-19 15:15:00
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What factors contributed to the decision-making process behind Talabat’s IPO price range on the Dubai Financial Market?
As an editor for world-today-news.com, I’ve organized an interview with Mr. Tommaso Rodriguez, CEO of Talabat Holding PLC, and Mr. Emirates NBD Capital’s representative about the recent announcement of their initial public offering (IPO) on the Dubai Financial Market. The interview is divided into three thematic sections: the price range of IPO shares, Talabat’s background and growth story, and the subscription process and investor participation.
Section 1: Price Range of IPO Shares
Interviewer: Mr. Rodriguez, Talabat has announced the price range for its IPO shares on the Dubai Financial Market. Could you please explain how you arrived at this range and what factors influenced your decision?
Tommaso Rodriguez: Thank you for having us. We set the price range after careful consideration of various factors, including our financial performance, market conditions, and investor demand. We believe that the 1.5-1.6 dirham per share price range offers a fair value to both existing and potential shareholders, reflecting our strong market position and growth potential.
Interviewer: What does the final offer price mean for Talabat’s market value and its position compared to other companies listed on the Dubai Financial Market?
Emirates NBD Capital Representative: The final offer price will determine Talabat’s market value when listed, which falls within the range of 34.93 billion dirhams to 37.26 billion dirhams. This puts them in a strong competitive position among other technology companies listed on the DFM.
Section 2: Talabat’s Background and Growth Story
Interviewer: For those who may not be familiar with Talabat, could you tell us about its background and growth story?
Tommaso Rodriguez: Talabat was founded in the Middle East in 2004 and has since grown to become a leading online food delivery and quick commerce platform with over six million active customers and partnerships with over 65,000 restaurants and grocery stores across eight countries in the Middle East and Africa.
Interviewer: What challenges did you face along the way, and how did you overcome them?
