Delivery Hero's food delivery service plans $1b IPO

Delivery Hero’s Talabat food delivery service plans to launch an IPO in December.

The IPO will be on the Dubai Stock Exchange, involving 15% of Talabat’s issued shares, its parent company announced.

Founded in Kuwait in 2004, Talabat has grown to serve over six million active customers in the United Arab Emirates, Oman, Qatar, Bahrain, Jordan, Iraq, and Egypt.

After the IPO, Talabat plans to distribute at least US$100 million in dividends by April 2025.

Recent Delivery Hero developments

Timeline
22-Feb-2024 🚫 Delivery Hero ends talks on potential sale of Foodpanda Delivery Hero ends talks to sell Foodpanda. Grab was reportedly in negotiation for the takeover.
03-Feb-2024 🍔 Delivery Hero denies deal to sell Foodpanda to Grab was cancelled Delivery Hero confirms active talks to sell Foodpanda Grab seeks to boost its market share with acquisition
18-Dec-2023 📉 Delivery Hero trims Berlin workforce, closes Taipei, Istanbul tech hubs Delivery Hero to close tech hubs in Istanbul, Taipei Workforce cut in Berlin amid efficiency drive
24-Nov-2023 🚪 Delivery Hero-owned Baemin to exit Vietnam in December Baemin exits Vietnam on December 8, 2023. Decision driven by tough market conditions and competition.
14-Nov-2023 📉 Delivery Hero faces growth hurdles in Asia, CEO says Delivery Hero’s Asia slowdown affects growth. Company GMV in Q3 surpasses analysts’ estimates.

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Recent Delivery Hero developments

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