Delivery Hero Boosts Size of Talabat’s Listing to $2 Billion
- Deal is set to the United Arab Emirates’ biggest of the year
- IPO is likely to price at top of range, terms of the deal show
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Delivery Hero SE boosted the size of its Middle Eastern unit’s initial public offering to as much as $2 billion, setting the deal up to be the United Arab Emirates’ biggest listing of the year.
The German firm now plans to sell a 20% stake in Talabat, up from 15%, it said in a statement on Wednesday. The deal is set to price at the 1.60 dirhams ($0.44) per share, the top end of a range that started at 1.50 dirhams, according to terms seen by Bloomberg News.