Delivery Hero Plans Talabat IPO in Dubai

Delivery Hero, a global food delivery service, intends to sell a 15% stake in its Middle East and North Africa business, Talabat, through an initial public offering (IPO) in Dubai scheduled between November 19 and 28. Talabat's strong financial performance, with substantial revenue growth and market expansion, suggests a potential valuation that could exceed Delivery Hero's current market capitalization. Proceeds from the sale are expected to reduce Delivery Hero's net debt, providing financial flexibility for future investments and strategic initiatives. This move reflects the growing investor interest in the Middle East's burgeoning tech sector and the increasing prominence of Dubai as a financial hub.