Dubizzle Group, a UAE-based classifieds marketplace and parent of real estate portal Bayut, has announced an IPO representing approximately 30.3% of the group’s total issued share capital.
Comprising a total of 1,249,526,391 shares (sum of 196,114,887 new shares to be issued by Dubizzle and 1,053,411,504 existing shares to be sold by its shareholders), the planned IPO will be floated on the Dubai Financial Market (DFM), according to a news release shared with the AIM Group.
Approximately 3.0% of the offering will be reserved for UAE retail investors with investment numbers (NIN) issued by the DFM, while the remaining 97% will be available to qualified institutional and other “professional investors” in several countries, including the UAE, as defined by the regulator. Upon completion of the offering, the paid-up share capital of Dubizzle Group will be AED82.3 million ($22.4 million).
Dubizzle Group said the final offer price will be determined through a book-building process during the subscription period, which will open on October 23 and close on October 29, with pricing and allocation expected on October 30. Admission of the shares to trading on DFM is expected to take place on or around November 06.
Notably, Prosus N.V. — the leading Dutch marketplaces operator and the largest shareholder in Dubizzle Group — has committed to invest $100 million in the IPO. “Since our initial investment in 2011, we have seen Dubizzle Group grow into the leading regional classifieds platform. This IPO is both a major milestone and a testament to the vision and execution of its leadership team,” said Fahd Beg, head of investment at Prosus.
Dubizzle Group has appointed Rothschild & Co. as the independent financial advisor and Emirates NBD Capital PSC as the listing advisor for the IPO. Emirates NBD Capital PSC, Goldman Sachs International, HSBC Bank Middle East Limited, and Morgan Stanley & Co. International PLC have been appointed as joint global coordinators and joint bookrunners, along with several others.
The company asserted that the offering is “Shariah compliant,” adding that the Internal Shariah Supervision Committee of Emirates NBD Bank PJSC — the lead receiving bank for the IPO — has issued a Shariah pronouncement confirming that, in its view, the IPO is compliant with Shariah principles.
Led by co-founders Imran Ali Khan and Zeeshan Ali Khan, Dubizzle Group specializes in digital classifieds spanning real estate, automotive, and general goods. In recent years, the group has ramped up acquisitions and expansion. Following its foray in Saudi Arabia, Dubizzle’s real estate vertical Bayut has clocked 3.5 million monthly sessions, onboarded 2,300 clients, and recorded 26,800 monthly active listings in April 2025 — the same month Dubizzle acquired real estate intelligence provider Property Monitor.
Co-founder and CEO Imran Ali Khan said, “This IPO marks an exciting new chapter for Dubizzle Group. By welcoming a broader shareholder base, we are positioning the group to accelerate growth, deepen our presence in the markets where we operate, and create long-term value for our users, clients, employees, and shareholders alike.”
Dubizzle announced that its group adjusted revenue for the six months ended June 30, 2025 (H1 2025) grew by 37% year on year to $117 million. The UAE is the group’s core market, accounting for 89% of the total revenue in H1 2025. The UAE segment’s adjusted net profit for the period stood at $43 million.
