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Talabat registers its stokes on DFM
(MENAFN) Talabat Holding Firm, MENA’s head on-demand food, grocery and retail platform for daily deliveries, started registering and trading its stocks on the Dubai Financial Market (DFM).
The firm traded its stocks under the name of TALABAT, in accordance with a news agency.
The initial public offering (IPO), which increased gross profits for about AED 7.50 billion (USD2 billion), was the largest IPO in the GCC in the current year and the first ever in the technology industry IPO on DFM.
Talabat offered 20 percent of its whole issued capital stoke on DFM, with a significant demand from local, regional, and global stockholders consequent in double-digit oversubscription.
The last offering value for the IPO stopped at AED 1.60 per stoke after the declared price range in November.
Delivery Hero, the selling stockholder and a public firm registered on the Frankfurt Stock Exchange, will stay a main stockholder in talabat.
Tomaso Rodriguez, chief executive of talabat, announced: " Today marks the start of an exciting new chapter for talabat and the region’s wider tech sector and we are delighted to be welcoming new shareholders to be a part of our ambitious roadmap for the future.”
The firm traded its stocks under the name of TALABAT, in accordance with a news agency.
The initial public offering (IPO), which increased gross profits for about AED 7.50 billion (USD2 billion), was the largest IPO in the GCC in the current year and the first ever in the technology industry IPO on DFM.
Talabat offered 20 percent of its whole issued capital stoke on DFM, with a significant demand from local, regional, and global stockholders consequent in double-digit oversubscription.
The last offering value for the IPO stopped at AED 1.60 per stoke after the declared price range in November.
Delivery Hero, the selling stockholder and a public firm registered on the Frankfurt Stock Exchange, will stay a main stockholder in talabat.
Tomaso Rodriguez, chief executive of talabat, announced: " Today marks the start of an exciting new chapter for talabat and the region’s wider tech sector and we are delighted to be welcoming new shareholders to be a part of our ambitious roadmap for the future.”
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