IPO
Food delivery firm Talabat raised $2 billion in its stock market debut, the largest IPO in the MENA region during 2024
Shares of the online cosmetics retailer soared to as high as SAR45.5 ($12.1) each
By the end of 2024, the Dubai and Abu Dhabi stock exchanges' market cap exceeded $1.06 trillion
The company will trade under the ticker symbol “TALABAT”
Final share price has been set at AED1.60, valuing the company at around AED37.3 billion ($10.1 billion)
The additional 1,164,412,032 offer shares have been wholly allocated to the qualified investor offering
Revenue for the quarter rose 6 percent YoY to $1.86 billion
The offer price range has been set between AED1.50 and AED1.60 per share
Lulu is now listed under the ticker "LULU"
Admission of the shares for trading is expected to take place on or around December 10
The pro forma net profit reached AED110 million, showcasing a robust net profit margin of 9 percent
