ALBAWABA – Delivery Hero, the German multinational online food ordering and delivery company, is set to use the Talabat Initial Public Offering (IPO) to buy back $1.07 billion (€1 billion) worth of bonds.
Delivery Hero uses Talabat IPO
The renowned German company will utilize the Talabat Initial Public Offering (IPO), where a private company offers its shares to the public for the first time.
Notably, Talabat has been a subsidiary of Delivery Hero since 2016 and is one of the leading online food ordering platforms in the Middle East.
Delivery Hero will use the proceeds from Talabat's IPO to repurchase bonds worth approximately $1.07 billion (€1 billion).
Niklas Östberg, CEO of Delivery Hero, stated that the company plans to use Talabat’s public listing proceeds to pay off some of its $3.8 billion in bonds. (Shutterstock)
The company plans to use the proceeds from Talabat’s recent public listing. According to a statement from Delivery Hero, the 2025, 2026, and 2027 convertible bonds will be paid off in a total of $374.5 million (€350 million).
Notably, Delivery Hero recorded a total revenue of approximately $3.745 billion (€3.5 billion) in the fourth quarter of 2024, exceeding analysts' expectations in the market.
Niklas Östberg, CEO of Delivery Hero, stated that the company plans to use Talabat’s public listing proceeds to pay off some of its $3.8 billion in bonds. It is also worth noting that Delivery Hero has been working to cut costs since 2023.
