29.11.2024
Delivery Hero: Talabat offer price at the upper end of the range + Telekom awards major contract to Nokia and Fujitsu
The food delivery service Delivery Hero $DHER (-0.48%) has set the offer price for the IPO of its lucrative Middle East subsidiary Talabat at the upper end of the range, as expected. The issue price is 1.60 dirhams (0.41 euros), the MDax-listed company announced in Berlin on Friday morning. A few days earlier, Delivery Hero had already increased the size of its offering due to strong investor demand. Overall, the competitor of Just Eat Takeaway expects the Talabat initial listing to generate gross proceeds of around 1.9 billion euros. The Talabat shares are to be traded on the Dubai Stock Exchange from December 10. In the long term, Delivery Hero intends to indirectly hold a majority stake in the business, which bundles activities in the United Arab Emirates, the Middle East and North Africa. According to earlier statements, the Berlin-based company wants to be represented on the Board of Directors with half of the members and consolidate Talabat in the consolidated financial statements even after the IPO. Talabat intends to pay its shareholders at least one dividend totaling 100 million US dollars for the current fourth quarter next April. For the full year 2025, no less than USD 400 million is then to be distributed. The dividends are then to be paid in two stages per year in October and the following April.
The Deutsche Telekom $DTE (-0.5%) wants to and must rely more heavily on Open RAN (Radio Access Network) in its mobile access network and has therefore acquired Nokia $NOKIA (-0.35%) and Fujitsu $FUJ a major contract for the conversion of over 3,000 antenna sites by 2027. This will also fulfill the German government's requirements for management systems.
Friday: Stock market dates, economic data, quarterly figures
ex-dividend of individual stocks
Coca-Cola USD 0.49
Tyson Foods (A) USD 0.49
Quarterly figures / company dates Europe
11:00 MTU Aero Engines Strategy Update 2025
Untimed: Delivery Hero - subsidiary Talabat: Expected publication of the final offer price
Economic data
- 08:00 DE: Retail sales October seasonally adjusted real FORECAST: -0.5% yoy previous: +1.3% yoy | Employment | Real Wages November
- 08:00 DE: Import/export prices October import prices FORECAST: n/a previous: -0.4% yoy/-1.3% yoy
- 08:45 FR: Private consumption October FORECAST: n/a previous: +0.1% yoy/-0.1% yoy
- 08:45 FR: Consumer prices (preliminary) November FORECAST: n/a previous: +0.2% yoy/+1.2% yoy HICP FORECAST: n/a/+1.7% yoy previous: +0.3% yoy/+1.6% yoy
- 09:00 CH: GDP FORECAST: n/a previous: +0.7% yoy/+1.8% yoy
- 09:55 DE: Labor market data November seasonally adjusted unemployment rate FORECAST: +20,000 yoy previous: +27,000 yoy Unemployment rate seasonally adjusted FORECAST: 6.2% previous: 6.1%
- 11:00 EU: Eurozone consumer prices (flash estimate) November Eurozone FORECAST: -0.2% yoy/+2.3% yoy PREV: +0.3% yoy/+2.0% yoy Core CPI (excluding energy, food, alcohol, tobacco) FORECAST: n.a./+2.8% yoy PREV: +0.2% yoy/+2.7% yoy
- 11:00 IT: Consumer prices (preliminary) November FORECAST: n/a/+1.3% yoy previous: +0.3% yoy/+1.0% yoy
- 20:00 US: Bond market shortened trading until 20:00
