Dubizzle Group Holdings PLC has announced plans to proceed with an initial public offering (IPO) and list its ordinary shares on the Dubai Financial Market (DFM).
The offering will represent about 30.34 per cent of the company’s total issued share capital, including newly issued shares and existing shares sold by current shareholders, the company said in a press release.
The subscription period will open on October 23 and close on October 29, with trading expected to begin on about November 6. The final offer price will be determined through a book-building process.
As part of the IPO, Prosus NV, Dubizzle Group’s largest shareholder through OLX BV, has committed to invest $100 million. Prosus, listed on Euronext Amsterdam, has a market capitalisation of approximately $170 billion.
“Dubizzle Group is deeply integrated into the daily lives of millions across the UAE and wider Mena region,” said Imran Ali Khan, chief executive of Dubizzle Group. “This IPO marks an exciting new chapter, positioning us to accelerate growth, expand in key markets like Saudi Arabia and create long-term value for our users and shareholders.”
The company, known for its flagship platforms Dubizzle and Bayut, it attracts about 18 million monthly active users. Recent acquisitions – including DriveArabia, Property Monitor and Hatla2ee – have strengthened the company's market position and expanded its product offerings.
Rothschild & Co has been appointed as independent financial adviser, while Emirates NBD Capital serves as listing adviser and one of the joint global co-ordinators alongside Goldman Sachs, HSBC and Morgan Stanley. The IPO will be compliant with Sharia principles, as confirmed by the internal Sharia supervision committee of Emirates NBD Bank.
The company plans to use proceeds from the offering to fund its employee stock plan, pursue strategic M&A opportunities and maintain flexibility for future growth.
The Middle East has seen a flurry of IPO activity in 2025, driven largely by the UAE and Saudi Arabia. In early October, UAE construction and engineering company Alec Holdings raised $381.2 million from its IPO offering on the DFM, recording one if its highest levels of non-UAE investor participation, the company said.
In September, Flynas, Saudi Arabia’s budget airline, raised about $1.1 billion by selling a 30 per cent stake, marking one of the region’s largest IPOs this year. An August, the Dubai Residential Reit made its debut on the DFM, securing $584 million.
In June, Specialised Medical Company launched its IPO on Tadawul, raising nearly $500 million as part of the kingdom’s healthcare sector expansion. Before that in May, United Carton Industries Company, a leading packaging firm, went public with an offering worth about $160 million, catering to Saudi Arabia’s growing industrial needs.
