Delivery Hero is looking to the Gulf to remove the sour taste of recent years. The $12 billion Frankfurt-listed group has seen its shares slump by over two-thirds since December 2020. Its decision on Monday to commence the sale of 15% of its Middle East and North Africa business,

Delivery Hero SE’s Middle Eastern subsidiary is looking to diversify beyond its core business of food and groceries delivery, a top executive said, after the firm teed up a share sale that could value it more than its parent company.

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.

Talabat, the Middle East business of Delivery Hero , will list on the Dubai Stock Exchange in mid-December, floating 15% of its issued shares, its German parent said on Sunday, in what will be one of the UAE's biggest IPOs this year.

Valuation is broadly expected at US$13bn–$15bn-equivalent with a deal size of around 10%, though Delivery Hero’s need to deleverage could mean it sells more stock

It will retain a majority stake in Talabat. Delivery Hero SE has announced plans to list 15% of its food delivery and quick commerce business, Talabat, on the Dubai Financial Market in Q4 2024. The Securities and Commodities Authority of the UAE approved the local prospectus on 7 November 2024,

German multinational Delivery Hero says it preparing to float 15% of stock from its rapidly expanding Middle East subsidiary Talabat in an initial public offering (IPO). The food delivery brand announced in Berlin on Sunday that it aims to list all shares in Talabat - the Arabic for "orders" - on the Dubai stock exchange by mid-December.