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Delivery Hero has increased the size of Talabat’s Dubai IPO to 20%, up from 15%, raising up to AED 7.5 billion ($2 billion).
Based on the new offering, the food delivery company will sell 4.6 billion shares at a price range of AED 1.50 to AED 1.60 per share. This would imply a market capitalisation of about $10.1 billion when it floats next month.
The increased offering size, which was previously expected to be $1.52 billion on Dubai Financial Market (DFM), follows significant regional and international demand from investors, the company said.
The subscription period for retail investors will close on Wednesday. The subscription period for qualified investors end on Thursday.
The final offer price will be announced on Friday, with the shares to start trading from December 10.
(Reporting by Imogen Lillywhite; editing by Seban Scaria)
