Delivery Hero SE’s Middle Eastern subsidiary is looking to diversify beyond its core business of food and groceries delivery, a top executive said, after the firm teed up a share sale that could value it more than its parent company.

Talabat, the Middle East business of Delivery Hero , will list on the Dubai Stock Exchange in mid-December, floating 15% of its issued shares, its German parent said on Sunday, in what will be one of the UAE's biggest IPOs this year.

UAE delivery platform has been the star performer of parent company Delivery Hero; Subscription period to open on 19 November

Delivery Hero SE unveiled plans to list its Talabat unit in Dubai, in what could be among the region’s biggest initial public offerings of the year.

Talabat, the Middle East business of Delivery Hero , plans to launch its Dubai initial public offering next week, three people familiar with the plans told Reuters, in one of the UAE's biggest IPOs this year.

German multinational Delivery Hero says it preparing to float 15% of stock from its rapidly expanding Middle East subsidiary Talabat in an initial public offering (IPO). The food delivery brand announced in Berlin on Sunday that it aims to list all shares in Talabat - the Arabic for "orders" - on the Dubai stock exchange by mid-December.

TALABAT, the Middle East business of Delivery Hero, plans to launch its Dubai initial public offering next week, three people familiar with the plans told Reuters, in one of the UAE’s biggest IPOs this year.

Delivery Hero is looking to the Gulf to remove the sour taste of recent years. The $12 billion Frankfurt-listed group has seen its shares slump by over two-thirds since December 2020. Its decision on Monday to commence the sale of 15% of its Middle East and North Africa business,

Delivery Hero SE unveiled plans to list its Talabat unit in Dubai in what could be among the region’s biggest initial public offerings of the year.