Iain Martin is a senior editor who covers tech, startups and venture capital out of London, England. Iain edits the Midas List Europe, Midas Seed and Forbes 30 Under 30 Europe Technology.
In a sparse year for listings, the $10.2 billion float of Talabat , a Middle East -based food delivery company, on Dubai ’s exchange is expected to outstrip IPO s from hyped American tech startups like Reddit, Rubrik and even India’s Swiggy.Food and grocery delivery company Talabat 's $10.2 billion listing on Dubai 's stock exchange is set to become this year's largest tech initial public offering .
Talabat’s listing is unusual because it’s essentially a spin out from parent company, Delivery Hero. The Berlin-based food delivery company snapped up Talabat back in 2016 in a string of deals that built a empire stretching across over 70 countries and 4 continents. Now grappling with tough competition and thinning profit margins, Delivery Hero is planning to sell the 15% stake in Talabat to pay down some of its more than $5.3 billion in debt.
Dubai UAE Delivery Hero Talabat Startup Tech IPO Initial Public Offering Stock Market
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