Talabat’s Dubai IPO size has been increased to 20%, up from 15%, raising up to AED 7.5 billion ($2 billion) due to the demands from investors.
Based on the new offering, the food delivery company will sell 4.6 billion shares at a price range of AED 1.50 to AED 1.60 per share. This would imply a market capitalisation of about $10.1 billion when it floats next month.
The increased Talabat’s offering size, which was previously expected to be $1.52 billion on Dubai Financial Market (DFM), follows significant regional and international demand from investors.
The subscription period for retail investors will close on Wednesday. The subscription period for qualified investors ends on Thursday.
The final offer price will be announced on Friday, with the shares to start trading from December 10.
