Talabat Stumbles Despite UAE’s Top 2024 Listing
Global Finance
DECEMBER 26, 2024
This was due to its aggressive pricing, said George Pavel, general manager of trading app Naga Middle East. The company and its underwriters priced the IPO at AED1.60, the top end of the marketed range, with a price-to-earnings ratio of 28 timessignificantly higher than the Dubai Financial Market General Indexs average of nine times.
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