Talabat’s net income jumps 44.5% in 9M 2024

Delivery Hero’s Middle East unit Talabat’s net income rose 44.5% y-o-y to AED 1.1 bn in 9M 2024, while revenues for the period increased 26.7% y-o-y to AED 5.7 bn, according to the company’s financial statements (pdf).

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REMEMBER- The company — which debuts on the DFM today — raised c. USD 2 bn in its IPO on the DFM, pricing the offering at the top of the range. The IPO, which saw double-digit oversubscription, marks the largest tech listing globally so far this year and the biggest IPO in the GCC in 2024. It is also the DFM’s first-ever tech IPO.