Delivery Hero Tees Up Mega Dubai IPO of Middle Eastern Unit
- Listing could be among the region’s largest IPOs of the year
- Share sale in food delivery company may raise $1 billion
A Talabat food delivery rider in Sharjah, UAE.
Photographer: Horacio Villalobos/Corbis/Getty Images
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Delivery Hero SE unveiled plans to list its Talabat unit in Dubai in what could be among the region’s biggest initial public offerings of the year.
The German food delivery firm plans to sell a 15% stake in its Middle Eastern subsidiary, according to a statement on Sunday, retaining a majority interest. It could amend the size of the offering subject to approvals from the United Arab Emirates’ Securities and Commodities Authority.