CEO Tomaso Rodriguez attributed the IPO’s success to Talabat’s growth strategy and market leadership, stating:
“Our growth strategy focuses on enhancing our product offering, increasing market penetration, investing in loyalty programs, scaling advertising, and exploring adjacent categories.”
Delivery Hero Retains Majority Stake
The IPO proceeds were collected by Delivery Hero MENA Holding GmbH, the sole investor in the offering. Delivery Hero MENA, a subsidiary of German food delivery giant Delivery Hero SE, remains Talabat’s majority shareholder after the IPO.
Regional Economic Diversification
Talabat’s IPO is the latest in a series of significant Middle Eastern public offerings as the region diversifies its economy beyond oil. Notably, UAE-based Lulu Retail Holding PLC completed a $1.7 billion IPO in November, further cementing the MENA region as a rising hub for global investment.
