Linklaters Advised Underwriters On Talabat's Landmark US$2 Billion IPO

Linklaters Advised Underwriters on Talabat's Landmark US$2 Billion IPO

Linklaters has advised the underwriters on the successful initial public offering (IPO) of Talabat Holding PLC, an online delivery service operating across the MENA region, which raised US$2 billion in the largest global tech IPO of 2024 to date.

The IPO, which was priced at the top end of the offer price range, resulted in an implied market capitalization of approximately USD 10 billion.

It also marks the first listing of an Abu Dhabi Global Market company on the Dubai Financial Market (DFM).

Talabat is the leading on-demand food ordering, delivery, takeaway, and groceries marketplace in the MENA region, with operations in the UAE, Kuwait, Qatar, Bahrain, Egypt, Oman, Jordan, and Iraq.

“We are very pleased to have advised the underwriters on this landmark transaction for Talabat, a company at the forefront of innovation in the MENA region. This IPO showcases the robust growth trajectory of the region's tech and logistics sectors, and we are excited to have played a pivotal role in supporting Talabat's next phase of growth,” said Jason Manketo, Partner at Linklaters.

The Linklaters team, based in Dubai and London, was led by Jason Manketo, Global Chair of the Firm’s Equities Practice, alongside Corporate Managing Associate Patrick Sutton- Mattocks, Corporate Associate Maxi Niefer, and US Corporate Finance Associate Cassandra Dula.