Dubizzle delays Dubai IPO: Dubai-based classifieds platform Dubizzle postponed its planned DFM listing a day before bookbuilding was due to start, saying it will reassess the optimal timing in a statement yesterday. This came despite “strong engagement and interest from investors,” according to the company, and could be due to issues related to valuation, head of research at SICO Bank Nishit Lakhotia is quoted as saying by Bloomberg.

More mature markets now demand more realistic valuations and growth forecasts: “Companies have to leave something for the IPO investors in terms of headroom and also future growth expectations should look more realistic,” he said. “Markets look more mature now and will punish IPOs that do not stick to these two factors.”

REFRESHER- The firm planned to offer 30.3% of its shares — about 1.1 bn existing and 196 mn new shares — in a hybrid sale expected to value the company at around USD 2 bn. The proceeds from the long-awaited listing, in the works since 2023, had been earmarked for M&A and expansion.

The move follows a string of underperforming UAE listings, including Alec Holdings, Talabat Holding, and Lulu Retail, all of which are currently trading below offer prices.

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