Talabat IPO values ​​the unit at $10.2 billion

Delivery Hero has achieved a major milestone with the initial public offering (IPO) of its Middle Eastern subsidiary Talabat on the Dubai Stock Exchange. The company set the share price at 1.60 UAE dirham (€0.41) per share and increased the size of the offering to 20 percent of Talabat’s shares, resulting in gross proceeds of approximately €1.9 billion . This pricing values ​​Talabat at an impressive $10.2 billion, almost matching the parent company’s market capitalization. Trading of the shares is expected to begin in Dubai on December 10, with Delivery Hero retaining majority control of the subsidiary.

Ambitious dividend strategy

The newly listed company has outlined an aggressive dividend payout plan for shareholders. Talabat commits to paying a minimum of $100 million in dividends by the fourth quarter of 2023, with payouts scheduled for April 2024. The company plans to substantially increase this payment to at least $400 million in fiscal year 2025, with the target is a payout ratio of approximately $90 million. percent of net profit. As the majority shareholder, Delivery Hero will benefit significantly from this generous dividend policy.

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