Talabat IPO Values Unit at $10.2 Billion

Delivery Hero has achieved a significant milestone with the IPO of its Middle East subsidiary Talabat on the Dubai Stock Exchange. The company has set the share price at 1.60 UAE dirhams (0.41 euros) per share and increased the offering size to 20 percent of Talabat shares, resulting in gross proceeds of around 1.9 billion euros. This price values Talabat at an impressive $10.2 billion, nearly equal to its parent company’s market capitalization. The shares are scheduled to begin trading in Dubai on December 10, with Delivery Hero retaining majority control of the subsidiary.

Ambitious dividend strategy

The newly listed company has unveiled an aggressive dividend distribution plan for shareholders. Talabat is committed to paying at least $100 million in dividends for the fourth quarter of 2023, with payments scheduled for April 2024. The company plans to increase this distribution significantly to at least $400 million by fiscal year 2025, targeting a payout ratio of approximately 90 percent of net income. As the majority shareholder, Delivery Hero should benefit significantly from this generous dividend policy.

Delivery Hero Stock: New Analysis – November 30th

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