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.
About Dubizzle Group
Dubizzle operates property portal Bayut and dominates key classifieds segments in the region, serving over 18m monthly active users.
- Generates around 54m sessions across the UAE, Saudi Arabia, Egypt, and other GCC markets.
- Holds about 65% of UAE property traffic market share and 87% of revenue share in autos.
The move came just a day before the bookbuilding process was due to begin.
Author's summary: Dubizzle Group delays Dubai IPO despite revenue growth.
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