Gibson Dunn Advises on the $2 Billion Listing of talabat in the Largest Technology Sector IPO of 2024 and the GCC’s Largest IPO in 2024
Firm News | December 10, 2024
Gibson Dunn advised Delivery Hero and talabat in connection with the initial public offering (IPO) and listing of talabat on the Dubai Financial Market (DFM), marking the largest technology sector IPO globally and the largest IPO in the GCC in 2024. This is the second year running that Gibson Dunn was issuer’s counsel on the largest IPO in the UAE, following last year’s $2.5 billion ADNOC Gas IPO.
The IPO, which raised gross proceeds of approximately $2 billion, resulting in an implied market capitalization of c.$10.1 billion, also marks the first-ever technology sector IPO on DFM.
talabat is the leading on-demand online food ordering, delivery, takeaway, and groceries and convenience retail marketplace in the MENA region, with operations in the UAE, Kuwait, Qatar, Bahrain, Egypt, Oman, Jordan, and Iraq.
The Gibson Dunn team comprised partners Marwan Elaraby, Jade Chu, and Ibrahim Soumrany; associates Omar Morsy, Krishna Parikh, Ashley Cywicki, Vlad Zinovyev, Rachel Treasure, Anthony Forde, Huw Thomas, Ian Mwiti Mathenge, and Sherif Hashem; and staff attorney Hazim Alfreahat.