DUBAI, Nov 11 (Reuters) - Talabat Holding plans to sell 3.49 billion shares amounting to a 15% stake through an initial public offering $(IPO.UK)$ in Dubai, the Middle East business of Delivery Hero DHER.DE said on Monday, in a deal seen as one of the biggest listings this year in the United Arab Emirates.
The share sale in the Dubai-based Talabat, which runs one of the Middle East's largest food ordering businesses, will run from Nov. 19-27 for UAE retail investors and on Nov. 28 for professional investors.
Berlin-based Delivery Hero, which bought a majority stake in Talabat in 2015, said on Sunday it would retain a majority stake after the IPO.
Talabat has hired Emirates NBD Capital PSC, J.P. Morgan Securities PLC and Morgan Stanley & Co International PLC as joint global coordinators and joint book-runners and expects to start trading on the Dubai Financial Market (DFM) on or around Dec. 10.
The company could sell stock worth more than $1 billion, Reuters reported earlier this month.
Founded in 2004 in Kuwait, Talabat has expanded to serve customers in the UAE, Oman, Qatar, Bahrain, Jordan, Iraq and Egypt, with over six million active customers as of the end of July, according to company data.
(Reporting by Federico Maccioni; Writing by Nadine Awadalla; Editing by Janane Venkatraman)
((Nadine.Awadalla@thomsonreuters.com;))
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