Talabat Holding plc, a leading food delivery and e-commerce company, has announced its intention to list on the Dubai Financial Market (DFM). The company plans to offer shares to UAE Retail Investors, including eligible employees, and Professional Investors outside the United States, including those in the UAE.
The subscription period for the UAE Retail Offering is scheduled from 19 November 2024 to 27 November 2024, while the Qualified Investor Offering will run from 19 November 2024 to 28 November 2024. The offer price per share will be determined through a book building process during the subscription period.
Capital Structure and Dividend Policy
Talabat’s share capital is set at AED 931,529,625, divided into 23,288,240,625 shares with a nominal value of AED 0.04 each. The company plans to pay a minimum dividend of AED 367.25 million in April 2025 for the fourth quarter of 2024. For the financial year ending 31 December 2025, a minimum dividend of AED 1,469 million is planned, payable in two installments. Talabat aims to pay dividends twice each calendar year, targeting a 90% net income payout.
Shariah Compliance and Trading Admission
The Internal Shariah Supervision Committee of Emirates NBD Bank PJSC has confirmed that the offering complies with Shariah principles. The admission of shares to trading on the DFM is expected around 10 December 2024, subject to market conditions and regulatory approvals.
Several financial institutions, including Abu Dhabi Commercial Bank PJSC, Barclays Bank PLC, and Goldman Sachs Bank Europe SE, have been appointed as joint bookrunners. Emirates NBD Bank PJSC will serve as the Lead Receiving Bank, with other banks appointed as Receiving Banks.
This IPO marks a significant milestone for Talabat and the UAE financial market, reflecting growing investor confidence and the increasing appeal of local capital markets.
