Dubizzle Group postpones IPO to assess ideal time for future offering

23/10/2025 05:58 AST

Dubizzle Group on Wednesday announced its decision to postpone its planned initial public offering (IPO) on the Dubai Financial Market.

The company said it has decided to postpone IPO to assess optimal timing for the offering in the future.

Since announcing its Intention to float, Dubizzle Group said it has seen strong engagement and interest from investors, reflecting the company's market leadership, profitability, and growth prospects across the UAE and Saudi Arabia.

"Dubizzle Group remains focused on executing its strategy of growing its highly profitable UAE business and expanding its footprint in Saudi Arabia," it said in a statement.

Dubizzle Group is the leading digital classifieds marketplace in Mena.

On October 13, Dubizzle Group announced its plan to proceed with an IPO and list on the Dubai bourse.

The company planned to offer approximately 30.34 per cent of its total issued share capital, equivalent to a total of 1,249,526,391 shares, comprised of 196,114,887 new shares to be issued and sold by the company and 1,053,411,504 existing shares by the company's selling shareholders.

The paid-up share capital of the Company, upon the completion of the offering, has been set at Dh82.368 million, divided into 4,118,412,630 shares, with the nominal value of each share being Dh0.02.

The UAE is the group's core market and generated $105 million adjusted revenue in the first half of 2025, accounting for 89 per cent of its adjusted revenue, helped by strong recurring revenue from agencies and dealerships. The UAE segment delivered $48 million adjusted EBITDA in H1 2025, up from $25 million in H1 2024. It reported $43 million adjusted net profit in H1 2025, up from $21 million in H1 2024, attributing the increase in profitability to disciplined cost management and scalable infrastructure.

"Our UAE business continues to generate exceptional profitability, with nearly 50 per cent profit margins and 85 per cent cash flow conversion. Being an asset-light company, growth now trickles down into solid EBITDA," said Imran Ali Khan, CEO of Dubizzle Group.

Khaleej Times