Delivery Hero has successfully priced the IPO of its Middle Eastern subsidiary, Talabat, at 1.60 AED ($0.44) per share, raising approximately AED 7.5 billion ($2 billion) in gross proceeds. This pricing reflects strong investor demand, leading to an upsizing of the offering from 15% to 20% of the company's total issued share capital. The IPO is set to be the largest in the UAE for 2024, with shares expected to start trading on the Dubai Financial Market on December 10, 2024. The strong oversubscription indicates robust market confidence in Talabat's growth potential in the competitive food delivery sector.

The successful IPO comes at a time when Delivery Hero is focusing on profitable growth across its global operations, as evidenced by its recent strong financial results. The company reported a 20% year-on-year increase in total segment revenue for Q2 2024, driven by growth in its AdTech and subscription services. However, the company faces challenges, such as regulatory changes in Spain that require delivery riders to be classified as employees, which could impact operational costs. Overall, Talabat's IPO positions Delivery Hero favorably in the market, enhancing its capital base for future expansion.