{"id":108430,"date":"2025-10-14T00:00:00","date_gmt":"2025-10-14T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/dubizzle-pulls-the-trigger-on-its-long-awaited-dubai-ipo\/"},"modified":"2025-10-14T00:00:00","modified_gmt":"2025-10-14T00:00:00","slug":"dubizzle-pulls-the-trigger-on-its-long-awaited-dubai-ipo","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2025\/10\/14\/dubizzle-pulls-the-trigger-on-its-long-awaited-dubai-ipo\/","title":{"rendered":"Dubizzle pulls the trigger on its long-awaited Dubai IPO"},"content":{"rendered":"

Anoth<\/strong>er real estate-linked play hits Dubai\u2019s IPO market:<\/strong> Dubai-based property and classifieds platform Dubizzle Group Holdings is taking a 30.3% stake to market in a hybrid offering on the DFM, comprising roughly 1.1 bn existing shares and 196.1 mn new shares, it said in its prospectus (pdf)<\/a>. The IPO could value Dubizzle at around USD 2 bn, Bloomberg<\/a> reported earlier this week, citing people it says are familiar with the matter. IFR had earlier reported that the IPO could raise USD 500 mn<\/a> in proceeds. <\/p>\n

The move follows <\/strong>months of speculation<\/a><\/strong> around potential market debuts by<\/strong> Dubizzle and rival Property Finder<\/strong>, which were both said to be gauging investor appetite for an IPO. The company had previously brought on Citigroup and HSBC to explore a 2023 listing that never came through.<\/span><\/p>\n

Prosus anchors the float: <\/strong>Dubizzle\u2019s largest shareholder (via OLX) and Amsterdam-listed tech investor Prosus<\/a> is pouring USD 100 mn into the IPO, signaling confidence in the platform which it first backed in 2011. The company currently holds a 38% stake in Dubizzle. <\/p>\n

A two-tranche offering: <\/strong>Some 97% of the shares on offer will be limited to qualified institutional and professional investors both within the UAE and in other select markets, while the remaining 3% is reserved to local retail investors. <\/p>\n

Use of proceeds: <\/strong>The group, whose two main ventures are its classifieds platform dubizzle and property portal Bayut, plans to use proceeds from the primary offer finance M&As and support future growth plans, as well as to settle its employee stock ownership program. <\/p>\n

Books open next week: <\/strong>The subscription period will be open between 23 and 29 October, with the final pricing and allocation due Thursday, 30 October. Dubbizle is expected to ring the DFM\u2019s opening bell on or around Thursday, 6 November. <\/p>\n

Dubizzle said it does not plan to pay dividends in the near term<\/strong>, with cashflows expected to be reinvested into product innovation, market expansion, particularly in Saudi Arabia, and strategic acquisitions. The company aims to adopt an \u201cattractive dividend policy\u201d in the medium term, once growth investments stabilize and cashflow generation strengthens. <\/p>\n

Boasting healthy financials: <\/strong>Dubizzle\u2019s adjusted net income climbed 50% to USD 14.03 mn in 1H 2025, reflecting improved operating leverage and higher monetization across its real estate and automotive verticals. Its revenue was up 26.6% y-o-y to USD 133 mn over the same period. <\/p>\n

ADVISORS- <\/strong>Rothschild & Co is quarterbacking the transaction as independent financial advisors while Emirates NBD serves as listing advisor, according to the ITF document (pdf)<\/a>. Meanwhile, our friends at EFG Hermes UAE and HSBC are joint leads alongside Abu Dhabi Commercial Bank, Barclays Bank, Emirates NBD Capital, Goldman Sachs and Morgan Stanley. <\/p>\n

IN CONTEXT- The Dubizzle listing adds to a string of property-linked IPOs on the<\/strong> DFM this year<\/strong>, as companies look to ride the city\u2019s real estate boom. All three Dubai listings YTD are tied to the sector, including Dubai Holding\u2019s residential REIT earlier this year,<\/a> state-backed Alec Holdings<\/a>, and now Dubizzle. <\/p>\n

ALSO IN THE IPO PIPELINE:<\/strong><\/p>\n