Delivery Hero’s Talabat priced its Dubai initial public offering at the top end of the previously announced range, implying a market value of around $10 billion.

Delivery Hero SE set the price for its Middle Eastern unit’s initial public offering at the top of its range, putting the deal on pace to be the United Arab Emirates’ biggest listing of the year.

Delivery Hero SE boosted the size of its Middle Eastern unit’s initial public offering to as much as $2 billion, setting the deal up to be the United Arab Emirates’ biggest listing of the year.Most Read from BloombergNew York City’s ‘Living Breakwaters’ Brace for Stormier SeasIn Italy’s Motor City,

The food delivery platform, Delivery Hero, on Friday set a final price for the initial public offering (IPO) of its Middle East online food ordering service Talabat Holding at United Arab Emirate dirham (AED) 1.

For Delivery Hero SE, the public listing of its Middle Eastern unit brings a much needed cash windfall — and a vexing problem.Most Read from BloombergRiyadh Metro Partially Opens in Bid to Ease City’s Traffic JamsAs Wars Rage,

Delivery Hero has set the price for the IPO of its Middle Eastern unit, Talabat, at 1.60 UAE dirhams ($0.44) per share. It will raise AED 7.5 billion ($2 billion) in gross proceeds from its IPO on the Dubai financial Market (DFM).

Talabat is to raise about $2 billion from its IPO this year, after Delivery Hero priced the offering at the top end of the indicated range.

Following the IPO, Talabat plans to pay a minimum dividend of AED367.25 million in April 2025. The company is targeting a minimum dividend of AED 1.5 billion in 2025, split into t