Dubizzle Group Holdings has announced plans to offer a 30.34 per cent stake through an initial public offering (IPO) on the Dubai Financial Market (DFM).
The offering will comprise 1.25 billion ordinary shares, including 196.1 million new shares and 1.05 billion existing shares to be sold by the current shareholders.
Subscription for both retail and institutional investors will open on October 23 and close on October 29. The final offer price will be revealed on October 30, with trading expected to commence on November 6.
"This IPO marks an exciting new chapter for Dubizzle Group. By welcoming a broader shareholder base, we are positioning the Group to accelerate growth, deepen our presence in the markets where we operate, and create long-term value for our users, clients, employees, and shareholders alike,” said Imran Ali Khan, CEO of Dubizzle Group.
Rothschild & Co. has been appointed as the Independent Financial Advisor, while Emirates NBD Capital PSC will serve as the Listing Advisor.
The IPO is being jointly managed by Abu Dhabi Commercial Bank, Barclays Bank, EFG-Hermes UAE Limited, Emirates NBD Capital, Goldman Sachs International, HSBC Bank Middle East Limited, and Morgan Stanley & Co. International.
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