Delivery Hero SE decides on the intended IPO of Talabat Holding plc and plans to use proceeds for general corporate purposes and capital structure optimisation

EQS-Ad-hoc: Delivery Hero SE / Key word(s): IPO/Strategic Company Decision Delivery Hero SE decides on the intended IPO of Talabat Holding plc and plans to use proceeds for general corporate purposes and capital structure optimisation 10-Nov-2024 / 13:20 CET/CEST Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. Berlin, November 10, 2024 – Delivery Hero SE (“Delivery Hero” or the “Company”, ISIN DE000A2E4K43, Frankfurt Stock Exchange: DHER) announced on August 29, 2024 its preparation to list its food delivery and quick commerce business that operates in the United Arab Emirates (“UAE”) and other countries in the Middle East and North Africa under the talabat brand on the Dubai Financial Market in Q4 2024.

Today, the Management Board of Delivery Hero resolved, with the consent of the Supervisory Board, to pursue an initial public offering (“IPO”) of 15% of the total issued shares of Talabat Holding plc (“Talabat”) and indirectly held by Delivery Hero with the target to list all shares of Talabat on the Dubai Financial Market in mid-December 2024 (“intention to float”). Delivery Hero may amend the size of the offering subject to required approvals of the Securities and Commodities Authority of the UAE.

The public offering and listing would be made based on a local prospectus that has been approved by the Securities and Commodities Authority of the UAE on November 7, 2024 and will be published on Talabat’s website on November 11, 2024. Private placements to institutional investors would be made based on a corresponding international offering memorandum that would be published on Talabat’s website upon the start of the book building period.

Delivery Hero would retain the majority interest in Talabat, be subject to a lock-up of 180 days following listing, be represented with half of the directors on the board of Talabat and continue to consolidate Talabat in its consolidated financial statements after implementation of the intended IPO.

Delivery Hero would use the IPO proceeds that depend on the number and price of Talabat shares to be sold by Delivery Hero for general corporate purposes and to further optimise its capital structure.