UAE: Delivery Hero parent firm, Talabat Holding, announced the price range for its Shariah compliant IPO on the Dubai Financial Market (DFM) on the 19th November 2024, setting it between AED1.50 and AED1.60 per share. The IPO will offer 3.49 billion shares, representing 15% of the company’s total share capital. The subscription period will close on the 27th November 2024 for UAE retail investors and the 28th November 2024 for professional investors. UAE Strategic Investment Fund, Abu Dhabi Pension Fund and Emirates International Investment Co will subscribe to shares worth US$250 million as cornerstone investors in this Delivery Hero outfit.
The IPO has received confirmation of Shariah compliance from the Internal Shariah Supervision Committee of Emirates NBD Bank, the lead receiving bank. Abu Dhabi Islamic Bank, Dubai Islamic Bank and Emirates Islamic Bank, among others, have been appointed as receiving banks.
