{"id":95442,"date":"2024-09-04T00:00:00","date_gmt":"2024-09-04T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/delivery-hero-moves-forward-with-talabat-ipo\/"},"modified":"2024-09-04T00:00:00","modified_gmt":"2024-09-04T00:00:00","slug":"delivery-hero-moves-forward-with-talabat-ipo","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/09\/04\/delivery-hero-moves-forward-with-talabat-ipo\/","title":{"rendered":"Delivery Hero moves forward with Talabat IPO"},"content":{"rendered":"

Delivery Hero taps banks Talabat\u2019s DFM listing: <\/strong>German last-mile delivery firm Delivery Hero has appointed Emirates NBD, Morgan Stanley, and JP Morgan to work on the upcoming IPO of its food delivery unit Talabat on DFM, Bloomberg<\/a> reports, citing people it says are familiar with the matter. Delivery Hero may also appoint additional banks for the share sale. <\/p>\n

A USD 1 bn sale? <\/strong>The business information service thinks the transaction could be worth c. USD 1 bn, but no decisions have been made on valuation. Delivery Hero signaled<\/a> that it\u2019s not looking to raise fresh capital and is instead offering existing shares for sale. It plans to retain a majority stake after the IPO goes through. <\/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

By the numbers: <\/strong>RBC Capital Markets says Delivery Hero does EUR 5 bn worth of business in the MENA region, and Bloomberg Intelligence gives Talabat an enterprise value of c. USD 6 bn. <\/p>\n

Talabat is <\/strong>set to debut on DFM<\/a><\/strong> in 4Q 2024.<\/strong> The transaction is waiting for approval from the Securities and Commodities Authority. <\/p>\n

REFRESHER- <\/strong>This would be the third market debut on the DFM in 2024, following the successful IPOs of Parkin, which raised AED 1.57 bn<\/a>, and Spinneys, which raised AED 1.38 bn<\/a>.<\/p>\n

There\u2019s more in the pipeline for the DFM, <\/strong>with construction firm Alec<\/a> and tapping advisors for a planned IPO and Amanat Holdings looking to list either its education<\/a> or healthcare<\/a> unit, with reports that its healthcare unit could raise some USD 200 mn as soon as this year. Hospitality group Five Holdings<\/a> also tapped advisors for a potential IPO next year. Shisha producer Advanced Inhalation Rituals had been said to be eyeing an IPO<\/a> in 1H 2024. <\/p>\n","protected":false},"excerpt":{"rendered":"

Talabat to raise some USD 1 bn from the IPO<\/p>\n","protected":false},"author":1,"featured_media":95443,"comment_status":"","ping_status":"open","sticky":false,"template":"single-feature.php","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":[1560],"tags":[1510,7,149,1509],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-95442","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipo-watch","tag-delivery-hero","tag-enterpriseam-uae","tag-ipo-watch","tag-talabat","wpautop","entry"],"acf":{"mongo_id":"d8b205c6-0818-4ed7-8bfa-7990c3568cc1","order":"3","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/8\/2635.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Delivery Hero moves forward with Talabat IPO","related_issue":[95437],"teaser":"Talabat to raise some USD 1 bn from the IPO","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/9\/.aa81e30a-159c-48bf-96ba-fda91f00746c.mp3"},"yoast_head":"\nDelivery Hero moves forward with Talabat IPO - 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