Dubizzle Group Delays IPO to Reassess Market Timing

DUBAI, UAE - October 23, 2025: Dubizzle Group, the Middle East’s leading online classifieds platform, has announced the postponement of its planned initial public offering (IPO) on the Dubai Financial Market (DFM). The company said the decision was made to take additional time to “assess optimal timing for the offering,” citing the need to align with broader market conditions.

The move comes just ahead of the pricing phase, a key stage in the IPO process where investor bids are collected through bookbuilding. In a statement, Dubizzle emphasized that despite the delay, investor interest remains strong.

“Since announcing our Intention to Float, we have received significant engagement and interest from investors, reflecting Dubizzle’s market leadership, profitability, and long-term growth potential in both the UAE and Saudi Arabia,” the company said.

Strategic Focus Remains Unchanged

The company reaffirmed its ongoing commitment to expansion, adding, “Dubizzle Group remains focused on executing its strategy of growing its highly profitable UAE business and expanding its footprint in Saudi Arabia.”

The UAE continues to serve as Dubizzle’s core market, accounting for nearly 89% of its total revenue. The group entered Saudi Arabia in 2024 as part of its wider regional growth strategy.

Market Context: Mixed IPO Momentum

Dubizzle’s postponement follows a period of mixed performance among new market entrants. Shares of Alec Holdings PJSC, which debuted last week, have fallen more than 6%, while other high-profile listings, including Talabat Holding Plc and Lulu Retail Holdings Plc, remain below their initial offer prices.

Despite this volatility, the Gulf continues to rank among the most active IPO markets globally. Since 2022, companies across the Middle East have raised close to $50 billion through public offerings, underscoring strong investor appetite for regional equities even amid shifting sentiment.

Backed by Global Investors

Dubizzle Group is backed by Prosus NV, one of the world’s largest technology investors, and has been preparing for a public listing since 2023. The company previously raised $200 million in 2022 from a consortium led by Affinity Partners, the investment firm founded by Jared Kushner.

While no new date has been announced, Dubizzle is expected to revisit its IPO plans once market conditions stabilize, marking one of the few instances of a high-profile delay in Dubai’s active public offering cycle.