Dubizzle Group, which published an IPO prospectus almost 10 days back, has now decided to delay its IPO on the Dubai Financial Market.
The company, which operates classifieds platforms across the Middle East, said that it will take additional time to evaluate the best moment to proceed with the listing.
“Since announcing its Intention to Float, Dubizzle Group has seen strong engagement and interest from investors, reflecting the company’s market leadership, profitability, and growth prospects across the UAE and Saudi Arabia. However, the Company has decided to postpone its planned IPO and assess optimal timing for the offering in the future,” Dubizzle said in a statement.
(Editing by Seban Scaria seban.scaria@lseg.com)
