Dubai's Dubizzle Group announces IPO, to list on DFM

13/10/2025 05:48 AST

Dubizzle Group Holdings, a digital classifieds marketplace, on Monday announced its plan to proceed with an initial public offering (IPO) and to list on the Dubai Financial Market (DFM).

The company aims to offer approximately 30.34 per cent of its total issued share capital, which includes both new shares issued by the company and existing shares sold by current shareholders.

This is equivalent to a total of 1,249,526,391 shares, comprised of 196,114,887 new shares to be issued and sold by the company and 1,053,411,504 existing shares to be sold by the company's selling shareholders.

The paid-up share capital of the Company, upon the completion of the offering, has been set at Dh82.368 million, divided into 4,118,412,630 shares, with the nominal value of each share being Dh0.02.

The company's ability to pay dividends is dependent on a number of factors, including the availability of distributable reserves and its capital expenditure plans and other cash requirements in future periods. There is no assurance that the company will pay dividends or, if a dividend is paid, what the amount of such dividend will be, it said on Monday.

The final offer price will be determined through a book-building process during the subscription period.

The subscription period will run from October 23, 2025, and is expected to close on October 29, 2025, for UAE retail investors and professional investors, with pricing and allocation to professional investors expected on October 30, 2025.

The shares of Dubizzle are expected to trade on or around November 6, 2025, on the Dubai bourse.

Prosus NV, the company's largest shareholder through its subsidiary OLX BV, has committed to invest $100 million in the IPO as part of the offering, reflecting Prosus' ongoing long-term support of Dubizzle Group.

The offering is compliant with Shariah principles.

Dubizzle Group, through its flagship platforms dubizzle and Bayut, connects individual and business sellers (listers) with prospective buyers across several verticals, particularly real estate and automotive, through its powerful digital ecosystem.

"Since our initial investment in 2011, we have seen Dubizzle Group grow into the leading regional classifieds platform. This IPO is both a major milestone and a testament to the vision and execution of its leadership team. We are proud to support the next chapter of growth for this homegrown tech champion," said Fahd Beg, head of investment at Prosus.

Imran Ali Khan, CEO of Dubizzle Group, said they have 18 million monthly active users across property, automotive, general goods, and other categories.

"This IPO marks an exciting new chapter for Dubizzle Group. By welcoming a broader shareholder base, we are positioning the Group to accelerate growth, deepen our presence in the markets where we operate, and create long-term value for our users, clients, employees, and shareholders alike," he said.

The first tranche for retail investors represents 3 per cent of the offering, amounting to 37,485,791 shares. Under the second tranche, an offering to qualified institutional and other investors represents 97 per cent of the offering, amounting to 1,212,040,600 shares.

The UAE Retail Offering subscription period and the Qualified Investors Offering subscription period are expected to run from 23 October 2025 to 29 October 2025.

Emirates NBD Capital, Goldman Sachs International, HSBC Bank Middle East Limited and Morgan Stanley & Co. International have been appointed as joint global coordinators and joint bookrunners.

Abu Dhabi Commercial Bank, Barclays Bank, EFG-Hermes UAE Limited (in conjunction with EFG-Hermes UAE), Emirates NBD Capital, Goldman Sachs International, HSBC Bank Middle East Limited and Morgan Stanley & Co. International have been appointed as joint bookrunners.

Emirates NBD Bank has been appointed as the lead receiving bank. Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, Al Maryah Community Bank, Dubai Islamic Bank, Emirates Islamic Bank, First Abu Dhabi Bank, Mashreq Bank and Wio Bank have also been appointed as Receiving Banks.