Delivery Hero is a German multinational online food ordering and food delivery company established in Berlin, Germany.
Currently, Delivery Hero is planning to float an IPO of its Emirate-based subsidiary Talabat on the Dubai stock exchange in the fourth quarter of this year, the company added on Thursday.
The announcement illuminated that under the propositioned listing on the Dubai Financial Market, the parent will offer some of the shares in Talabat it owns but will maintain the majority stake.
Shares of Delivery Hero increased by 7 percent in Frankfurt at 0635 GMT.
Its sales for the second quarter/2014 were up by 31 percent in the Middle East & North Africa (MENA), making the region one of the areas with the fastest sales growth rate, a statement that came within the short period after the firm’s IPO.
For instance, Talabat that is an online food delivery company for a long time recorded its gross merchandise value (GMV) for a year at 5 billion euros.
Talabat deliver products to customers in the Middle East countries that include Bahrain, Egypt, Iraq, Jordan, Kuwait, Oman, Qatar, Saudi Arabia, and United Arab Emirates (UAE).
