Dubizzle Group Postpones Dubai IPO
Dubizzle Group, the online classifieds giant, has paused its planned initial public offering on the Dubai Financial Market (DFM).
Despite reporting a 75% surge in revenue over the past three years, the company is looking for an optimal time for its debut.
- The platform serves over 18m monthly active users.
- It generates around 54m sessions across the UAE, Saudi Arabia, Egypt, and other GCC markets.
- Dubizzle holds about 65% of UAE property traffic market share and 87% of revenue share in autos.
Founded in the UAE, Dubizzle operates property portal Bayut and dominates key classifieds segments in the region.
The move came just a day before the bookbuilding process was due to begin.
Author summary: Dubizzle Group delays Dubai IPO despite revenue surge.
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