By Staff Writer
Dubizzle Group, the leading digital classifieds marketplace in the MENA region, has announced plans to go public on the Dubai Financial Market (DFM). The move marks a major milestone for the Dubai-based company as it seeks to strengthen its balance sheet and accelerate growth across its key markets.
Through its popular platforms Dubizzle and Bayut, the group connects millions of buyers and sellers across property, automotive, and general goods categories. The company says the IPO will help expand its reach and enhance product offerings across these verticals.
Under the plan, around 30.34% of the company’s total issued share capital will be offered to investors. This includes 196 million new shares and more than 1.05 billion existing shares to be sold by current shareholders.
The subscription period for UAE retail and professional investors will run from October 23 to October 29, with final pricing and allocations for professional investors expected on October 30. Shares are scheduled to begin trading on or around November 6.
Prosus, Dubizzle Group’s largest shareholder through its subsidiary OLX, has committed to invest $100 million as part of the IPO, signaling strong continued support from one of the world’s largest tech investors.
“Dubizzle Group is the leading digital classifieds platform in the MENA region, with 18 million monthly active users across property, automotive, general goods, and other categories,” said Imran Ali Khan, CEO of Dubizzle Group. “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.”
Fahd Beg, Head of Investment at Prosus, added:
“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.”
The IPO structure includes a 3% retail offering (around 37 million shares) and a 97% qualified investor offering (approximately 1.2 billion shares). Both the company and selling shareholders reserve the right to adjust the size of the offering before the end of the subscription period, subject to UAE law.
IPO proceeds will be used to support strategic mergers and acquisitions, fund the employee stock ownership plan, and maintain financial flexibility for future growth.
xCube has been appointed as price stabilisation manager and liquidity provider to support share performance post-listing.
Rothschild & Co is acting as independent financial advisor, while Emirates NBD Capital serves as listing advisor. Emirates NBD Capital, Goldman Sachs International, HSBC Bank Middle East, and Morgan Stanley & Co. International are serving as joint global coordinators and bookrunners.
Additional receiving banks include ADCB, ADIB, Al Maryah Community Bank, DIB, Emirates Islamic Bank, FAB, Mashreq Bank, and Wio Bank.
The Internal Shariah Supervision Committee of Emirates NBD Bank confirmed that the offering complies with Shariah principles, though investors are advised to conduct their own due diligence.
The Dubizzle IPO marks another milestone in Dubai’s growing pipeline of tech listings and underscores the emirate’s position as a rising hub for regional innovation and public market growth.
