Dubizzle Group, the Dubai-based classifieds powerhouse, has announced a delay to its highly anticipated Initial Public Offering (IPO) on the Dubai Financial Market (DFM). The company stated it would pause the listing process to evaluate the most opportune moment to proceed, despite receiving significant interest from the investment community.
Strong Investor Interest Met With Caution
Since announcing its intention to float, Dubizzle Group confirmed it had witnessed strong engagement and interest from investors, reflecting confidence in the company’s market leadership, profitability, and growth prospects across the UAE and Saudi Arabia. However, in an official statement, the company declared its decision to postpone the IPO and “assess optimal timing for the offering in the future,” choosing to wait for more favorable market conditions rather than proceeding with the original timeline.
Details of the Planned Offering
The proposed IPO intended to offer 30.34 percent of Dubizzle’s share capital, equivalent to 1.24 billion shares, on the DFM. The subscription period was initially scheduled to open on October 23. The offering had already secured a major commitment from Netherlands-based Prosus, Dubizzle’s largest shareholder through its OLX subsidiary, which had pledged to invest $100 million in the IPO. This followed a significant $200 million funding round in 2022 led by Jared Kushner’s Affinity Partners.
Strong Financials and Strategic Focus
The decision to delay comes at a time of strong performance for the company. The UAE remains Dubizzle’s core market, contributing 89 percent of its first-half 2025 adjusted revenue, which stood at $117 million, a notable increase from $85 million during the same period a year earlier. The company reiterated that its strategic focus remains firmly on growing its business in the UAE and accelerating its expansion into the burgeoning Saudi Arabian market.
About Dubizzle Group
Dubizzle Group operates leading classifieds platforms across the Middle East, North Africa, and South and Southeast Asia. With a team of 2,400 employees spread across 10 countries, its portfolio includes well-known brands such as Bayut and the flagship Dubizzle platform, primarily focusing on the real estate and automotive sectors.
Source: AGBI
