Dubizzle Group, a leading digital classifieds marketplace in the region, has officially announced its intention to proceed with an Initial Public Offering (IPO) and list its shares on the Dubai Financial Market (DFM). The move marks a significant milestone for the homegrown tech giant, which operates prominent platforms including the classifieds portal Dubizzle and the real estate website Bayut.
IPO Details and Timeline
The subscription period for the IPO is set to open on October 23, 2025, and will close on October 29 for both retail and professional investors. The company intends to offer approximately 30.34 percent of its total issued share capital, which translates to 1.24 billion shares. This offering will consist of 196 million newly issued shares and 1.05 billion existing shares sold by current shareholders. The final offer price will be determined through a book-building process, with the shares expected to begin trading on the DFM on or around November 6, 2025, pending regulatory approvals.
Valuation and Investor Confidence
While the final price is yet to be set, sources report that the company is targeting a valuation of nearly $2 billion. Underscoring strong investor confidence, Netherlands-based Prosus, the group’s largest shareholder through its subsidiary OLX, has committed to investing $100 million in the IPO. Prosus has been a long-term backer of the company since its initial investment in 2011. The net proceeds from the IPO will be strategically used to settle the employee stock ownership plan, fund merger and acquisition opportunities, and maintain flexibility for future growth.
Financial Performance and Growth Strategy
Dubizzle Group has demonstrated robust growth, with the UAE remaining its core market, accounting for 89 percent of its $117 million in adjusted revenue for the first half of 2025. During the same period, the company’s UAE segment saw its adjusted net profit more than double year-on-year to $43 million. This performance is driven by a strong user base of 18 million monthly active users generating an average of 54 million sessions per month. The group has also been actively expanding its portfolio through strategic acquisitions over the past 18 months, including DriveArabia, Property Monitor, and Hatla2ee.
About Dubizzle Group
Dubizzle Group operates a portfolio of leading classifieds platforms across the Middle East, North Africa, and South and Southeast Asia. With a team of over 2,400 employees across 10 countries, the group connects millions of users through its flagship brands, Dubizzle and Bayut, primarily focusing on the real estate and automotive verticals. The company previously raised $200 million in a 2022 funding round led by Jared Kushner’s Affinity Partners.
Source: AGBI
