Delivery Hero SE has unveiled intentions to proceed with an initial public offering (IPO) for 15% of the shares in Talabat Holding plc. This entity is indirectly controlled by Delivery Hero. The company aims to list all Talabat shares on the Dubai Financial Market around mid-December 2024.
The company has emphasized that it will maintain a controlling stake in Talabat. Additionally, it will adhere to a 180-day lock-up period post-listing, hold half of the board positions at Talabat, and continue to integrate Talabat into its consolidated financial statements following the IPO's completion.
The IPO proceeds will be determined by the volume and pricing of Talabat shares sold. Delivery Hero intends to allocate these funds towards general corporate activities and optimizing their capital structure.
Post-IPO, Talabat plans to distribute a minimum dividend of approximately US$100 million in April 2025, relating to financial outcomes from the fourth quarter of 2024. It also foresees paying around US$400 million in two payments, one in October 2025 and another in April 2026, reflecting the financial results of 2025. Going forward, Talabat is set to distribute dividends twice annually, each targeting a payout of 90% of net income. With its majority stake in Talabat, Delivery Hero stands to benefit from these dividends.
On August 29, 2024, Delivery Hero SE disclosed its strategy to list its food delivery and quick commerce division, which operates in the United Arab Emirates and other Middle Eastern and North African countries under the Talabat brand, on the Dubai Financial Market in the fourth quarter of 2024.
