Today's Edition
A. Sreenivasa Reddy (Abu Dhabi)
Talabat has announced an increase in the size of its Initial Public Offering (IPO) from 15% to 20% of the company’s total stake.
According to a company statement, the number of shares available for allotment has been raised to 4.657 billion, up from the 3.493 billion shares initially announced at the IPO’s launch.
As a result of this adjustment, the IPO is now expected to raise between Dh7 billion and Dh7.5 billion, depending on the final offer price.
“The decision to increase the size of the offering has been taken on the back of a number of sizeable anchor orders from global and technology sector investors, including several that are investing for the first time on the Dubai Financial Market (DFM),” the company stated.
The additional 1,164,412,032 shares are exclusively allocated to professional investors, comprising high-net-worth individuals, investment firms, and pension funds.
The subscription period remains unchanged, closing on November 27 for retail investors and November 28 for professional investors. The final offer price will be announced on November 29, with the company’s shares expected to list on the DFM on or around 10 December.
