Linklaters advises on the largest global tech IPO in 2024 to date

Linklaters has advised the underwriters on the initial public offering (IPO) of Talabat Holding PLC and its listing in the UAE on the Dubai Financial Market (“DFM”), raising US$2 billion in the largest global tech IPO in 2024 to date.

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.

This transaction priced at the top end of the offer price range, resulting in an implied market capitalisation of c.US$ 10 billion, and marks the first listing of an Abu Dhabi Global Market company on the DFM.

Partner Jason Manketo comments:

“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."

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