Delivery Hero seeks to raise $1.5 billion from Talabat's Dubai IPO

German online food delivery company Delivery Hero is seeking to raise $1.5 billion from the initial public offering (IPO) of its subsidiary Talabat in Dubai

The IPO is expected to value Talabat at up to $6 billion, making it one of the largest IPOs in the Middle East. Delivery Hero acquired Talabat in 2015 for $170 million and has since invested heavily in the company's growth

Talabat is the leading food delivery platform in the Middle East, operating in nine countries and serving over 15 million customers. The company has a strong track record of growth, with its revenue increasing by over 50% in 2021. The IPO is expected to help Talabat continue its expansion plans and invest in new technologies

The IPO is also a sign of the growing interest in the Middle East's tech sector. The region has a large and rapidly growing population, and its tech sector is expected to grow significantly in the coming years. The IPO of Talabat is expected to attract a lot of interest from investors around the world

Delivery Hero is one of the world's largest online food delivery companies, operating in over 50 countries. The company has been growing rapidly in recent years, and its IPO is expected to be one of the largest in Europe this year

The IPO is expected to raise up to €1 billion, which will be used to fund Delivery Hero's continued growth. The company is planning to use the proceeds to invest in new markets, expand its existing operations, and develop new technologies

Delivery Hero's IPO is a sign of the growing importance of the online food delivery market. The market is expected to grow significantly in the coming years, as more and more people order food online. Delivery Hero is well-positioned to benefit from this growth, and the IPO is expected to help the company continue its expansion plans