PHOTO
Dubai-based Dubizzle Group Holdings, which operates classifieds platforms, plans to offer a 30.34% stake through an initial public offering (IPO) on the Dubai Financial Market (DFM).
The offering will comprise 1.25 billion ordinary shares, including 196.1 million new shares and 1.05 billion existing shares to be sold by the current shareholders.
Subscription for both retail and institutional investors will open on October 23 and close on October 29. The final offer price will be revealed on October 30, with trading expected to commence on November 6, 2025.
Rothschild & Co. has been appointed as the Independent Financial Advisor, while Emirates NBD Capital PSC will serve as the Listing Advisor.
The IPO is being jointly managed by Abu Dhabi Commercial Bank, Barclays Bank, EFG-Hermes UAE Limited (in conjunction with EFG-Hermes UAE LLC), Emirates NBD Capital, Goldman Sachs International, HSBC Bank Middle East Limited, and Morgan Stanley & Co. International.
Prosus N.V., Dubizzle’s largest shareholder via its subsidiary OLX B.V., has committed to invest $100 million in the offering.
Dubizzle Group operates digital classifieds platforms across two core verticals: dubizzle, which focuses on auto and general listings, and Bayut, which specialises in real estate.
Over the past 18 months, the Group has expanded its portfolio with acquisitions including DriveArabia, Property Monitor, and Hatla2ee.
In the first half of 2025, Dubizzle’s UAE segment posted an adjusted net profit of $43 million.
In the near term, the company plans to reinvest cash flows to support business growth.
Proceeds from the IPO will be used to settle the employee stock ownership plan, fund M&A opportunities, and maintain flexibility for future growth.
(Writing by Brinda Darasha; editing by Bindu Rai)
