Dubizzle Group Holdings PLC, the largest digital classifieds platform in the Middle East and North Africa, has announced an initial public offering on the Dubai Financial Market, expected to float approximately 30.34 percent of its share capital.
The 30.34 percent comprise both new and existing shares will open on October 23 and close on October 29 for retail and institutional investors, with trading expected to begin around November 6, subject to regulatory approvals.
Dutch investment giant Prosus NV, the company’s largest shareholder through OLX BV, has committed to invest 100 million dollars in the Dubizzle Group IPO.
According to CEO Imran Ali Khan, the listing is “an exciting new chapter,” adding that the company’s digital platforms serve over 18 million monthly active users across the UAE, Saudi Arabia, Egypt and other GCC markets.
“Our platforms are deeply embedded in the daily lives of users making life’s most important decisions like buying a home or car,” Khan said in a statement.
Dubizzle operates dominant platforms including dubizzle and Bayut, connecting buyers and sellers across verticals such as real estate and autos. The company holds approximately 65 percent of traffic market share in UAE property classifieds and commands 87 percent of revenue market share in autos, according to company disclosures.
The offering consists of 1.25 billion shares — about 196 million new shares issued by the company and over 1.05 billion shares offered by existing shareholders. Of the total, 3 percent will be allocated to UAE retail investors, while 97 percent will go to qualified institutional buyers.
The group’s expansion into Saudi Arabia is a core part of its future roadmap. Its property portal Bayut.sa now sees over 3.5 million monthly sessions and more than 2,300 paying real estate clients, according to the company. It is also rolling out integrated real estate services in the Kingdom, targeting a 9.2 billion dollar addressable market by 2030.
In parallel, the group has completed three acquisitions in the past 18 months — DriveArabia, Property Monitor, and Hatla2ee — to expand its footprint in the real estate and auto segments.
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