Talabat Tees Up IPO That May Value It More Than Delivery Hero

Delivery Hero SE’s Middle Eastern subsidiary is looking to diversify beyond its core business of food and groceries delivery, a top executive said, after the firm teed up a share sale that could value it more than its parent company.

Talabat is eying verticals including health care, beauty, pharmacy, pet services and fintech, its Chief Executive Officer Tomaso Rodriguez said in an interview. “We strongly believe that every single dollar we invest in expanding these areas has a much better return than a geographical expansion at this point.”

Emirates NBD, one of the banks on the IPO, said Talabat ...