Delivery Hero appoints Emirates NBD, Morgan Stanley for Talabat’s Dubai IPO
Delivery Hero: The report further states that more banks could be hired and the public subscription could bring around $1 billion but the valuation has not been set yet.
Delivery Hero: German food delivery company Delivery Hero recently announced that it’s soon going to launch its Talabat shares on the Dubai Stock Market by the fourth quarter of 2024.
However, the food delivery company has hired banks to help it get its Dubai unit listed on the Dubai stock market this year.
On Tuesday, Bloomberg reported that unnamed sources told them that the company has chosen Emirates NBD, Morgan Stanley, and JPMorgan Chase to take care of Talabat’s initial public offering (IPO).
The report further states that more banks could be hired and the public subscription could bring around $1 billion but the valuation has not been set yet.
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Earlier, the company said that the share sale depends on the market conditions and the approval from both the regulatory and corporate.
PwC reported that the number of IPO has increased in the Gulf region. In the second quarter, companies IPOs raised $2.6 billion against $1.8 billion in the same period last year.
Saudi Arabia was at the top in this activity as more than half ($1.6 billion) of the total funds raised went to Saudi Arabia.
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