Delivery Hero CEO Niklas Ostberg said the IPO of its Middle East business was about bringing in local investors in the region to co-invest and support the unit.
In a brief statement Thursday, Delivery Hero said that it is "preparing a listing of its Talabat business on the Dubai Financial Market in Q4 2024."
says it plans to spin off its Middle East business Talabat and float it on the Dubai stock exchange later this year. The company did not disclose a valuation, share price target, volume of shares that it will list, or a specific timeline beyond the fourth-quarter indication. "We have been looking into those opportunities to bring in stronger support," Ostberg told CNBC Thursdsay. "The Middle East is a very large part of our business and ... there is clear value for us to further build a strong base there."
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