{"id":83018,"date":"2024-12-11T00:00:00","date_gmt":"2024-12-11T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2024\/12\/11\/talabat-share-price-falls-after-strong-ipo\/"},"modified":"2024-12-11T00:00:00","modified_gmt":"2024-12-11T00:00:00","slug":"talabat-share-price-falls-after-strong-ipo","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2024\/12\/11\/talabat-share-price-falls-after-strong-ipo\/","title":{"rendered":"Talabat share price falls after strong IPO"},"content":{"rendered":"

Delivery Hero\u2019s Middle East unit Talabat is the latest to see its shares drop <\/strong>on their debut<\/strong>, with shares falling 6.9% to AED 1.49 yesterday, Bloomberg<\/a> reports, reversing earlier gains of up to 7.5%. Delivery Hero\u2019s shares also took a hit, losing as much as 12% in Frankfurt. <\/p>\n

REMEMBER- <\/strong>The company raised over USD 2 bn in the largest tech IPO this year. The IPO was priced at AED 1.60 per share, implying a market capitalization of c. AED 37.3 bn<\/a>. The company sold a 20% stake after increasing the offer size from an initial 15% during the book-building period due to high investor demand.<\/p>\n

(** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n

The company\u2019s lackluster performance is the latest in a wider trend<\/strong>, indicating a loss in \u201cliquidity momentum in the IPO market\u201d in 2024, founder and CEO of Oracle Financial Consultancy and Investments Mohammed Ali Yasin told Bloomberg. Other GCC IPOs are having similar debuts despite being oversubscribed. Oman\u2019s OQ Exploration & Production fell 8%<\/a> in its debut on the Muscat Stock Exchange two weeks ago, after raising a record USD 2 bn.<\/p>\n

No cause for alarm?<\/strong> \u201cThe valuation of the business was on the higher side of global comparables,\u201d CIO at Neovision Wealth Management Ashish Marwah said. \u201cI would reserve an outright judgment for a few trading sessions to see if there is follow-through.\u201d Lulu Retail\u2019s shares have fluctuated since its debut, but is now down 5% from its debut share price. Alef Education is also down 14%. <\/p>\n

ADVISORS-<\/strong> Emirates NBD Capital PSC, JPMorgan Securities and Morgan Stanley acted as joint global coordinators and joint bookrunners on the Talabat offering. Abu Dhabi Commercial Bank, Barclays, EFG-Hermes, First Abu Dhabi Bank, Goldman Sachs, ING Bank and UniCredit were joint bookrunners.<\/p>\n","protected":false},"excerpt":{"rendered":"

Delivery Hero\u2019s Middle East unit Talabat is the latest to see its shares drop on their debut, with shares falling 6.9% to AED 1.49 yesterday, Bloomberg reports, reversing earlier gains of up to 7.5%. Delivery Hero\u2019s shares also took a hit, losing as much as 12% in Frankfurt. REMEMBER- The company raised over USD 2 […]<\/p>\n","protected":false},"author":1,"featured_media":83019,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[229],"tags":[228,373,129],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-83018","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipo-watch","tag-ipo-watch","tag-talabat","tag-uae","wpautop","entry"],"acf":{"mongo_id":"284d1384-40f0-4cdb-9a4e-973fe0ce595f","order":"3","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/1\/1189.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Talabat share price falls after strong IPO","related_issue":[83013],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/12\/.cc740a8f-c2b3-446f-8df8-2ce9ecf756a5.mp3"},"yoast_head":"\nTalabat share price falls after strong IPO - Logistics<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/logistics\/2024\/12\/11\/talabat-share-price-falls-after-strong-ipo\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Talabat share price falls after strong IPO\" \/>\n<meta property=\"og:description\" content=\"Delivery Hero\u2019s Middle East unit Talabat is the latest to see its shares drop on their debut, with shares falling 6.9% to AED 1.49 yesterday, Bloomberg reports, reversing earlier gains of up to 7.5%. 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