Delivery Hero's CEO has indicated that the IPO of its Middle Eastern unit, Talabat, at a valuation of $10.2 billion, highlights the undervaluation of the parent company, which is valued at €10.9 billion ($11.5 billion). This public listing provides a significant cash influx for Delivery Hero SE.
Delivery Hero SE has increased the size of Talabat's initial public offering in Dubai to $2 billion, making it the largest listing in the UAE this year. The company plans to sell a 20% stake, up from 15%, with shares priced at 1.60 dirhams ($0.44) each, the upper limit of the initial range.
Talabat"s $1.5 billion initial public offering in Dubai saw all shares sold out just minutes after subscriptions opened, indicating strong demand for regional offerings. The IPO"s price range was set between 1.50 dirhams ($0.41) and 1.60 dirhams, with the parent company offering a 15% stake, equating to 3.49 billion shares.
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