Talabat’s $1.5 Billion IPO Sells Out Soon After Books Open

Delivery Hero is offering a 15% stake in its Middle East unit
Firm set a price range of 1.50 dirhams to 1.60 dirhams apiece

The Talabat headquarters in the City Walk district of Dubai, on Nov. 18.Photographer: Christopher Pike/Bloomberg

Provide news feedback or report an error

Confidential tip?

Send a tip to our reporters

Site feedback:

Take our Survey

By Laura Gardner Cuesta

November 19, 2024 at 5:47 AM UTC

Updated on

November 19, 2024 at 11:21 AM UTC

This article is for subscribers only.

Delivery Hero SE’s Middle East unit had demand for all shares in its $1.5 billion Dubai initial public offering minutes after subscriptions opened, in the latest sign of robust demand for regional deals.

Books for Talabat’s IPO were covered throughout the price range of 1.50 dirhams ($0.41) to 1.60 dirhams, according to the terms of the deal seen by Bloomberg News. Its parent firm is offering a 15% stake, or 3.49 billion shares.