Dubizzle Group has postponed its planned initial public offering (IPO) on the Dubai Financial Market, halting the process just one day before the subscription period was set to open. The company did not specify a reason for the delay, saying only that it will review the “optimal timing” for the listing at a later date.
The decision comes less than two weeks after Dubizzle announced its intention to go public, with trading initially scheduled to begin on November 6. The offering was expected to represent about 30.34 percent of the group’s total issued share capital, a mix of newly issued shares and those sold by existing shareholders.
In a statement, Dubizzle said it had seen strong investor interest since announcing the IPO, citing its position in the UAE and Saudi Arabia’s online classifieds markets. The company operates several major platforms, including Dubizzle and Bayut, which together attract roughly 18 million monthly active users. In recent years, Dubizzle has broadened its portfolio through acquisitions such as DriveArabia, Property Monitor, and Hatla2ee, moves aimed at consolidating its role across real estate, automotive, and general classifieds segments.
Advisers to the IPO included Rothschild & Co as independent financial adviser, with Emirates NBD Capital, Goldman Sachs, HSBC, and Morgan Stanley acting as joint global coordinators. The group had previously indicated that proceeds from the IPO would help finance its employee stock ownership plan, support merger and acquisition opportunities, and maintain liquidity for future expansion.
While the company did not elaborate on what prompted the delay, market observers have noted that several regional IPOs have been closely tied to broader investor sentiment and timing in Gulf equity markets. Dubizzle’s pause could reflect a tactical decision to reassess conditions before proceeding with what was expected to be one of Dubai’s more closely watched listings this year.
Dubizzle reiterated that it remains committed to growing its profitable UAE operations and expanding further into Saudi Arabia, where the online classifieds sector continues to attract significant digital and consumer interest.
