Dubizzle has postponed its planned initial public offering just a day before bookbuilding was set to begin, saying it will reassess the optimal timing for the deal.
The company had planned to float 30% of its shares on the Dubai Financial Market, in what could have been one of the city’s largest private tech listings to date. The decision comes amid mixed performance across recent UAE listings, including state-backed contractor Alec Holdings PJSC and high-profile IPOs such as Talabat Holding Plc and Lulu Retail Holdings Plc, which remain below offer prices.
According to analysts, the delay reflects a mismatch between valuation expectations and investor appetite, underscoring a maturing regional IPO market. Bloomberg previously reported that the listing could have valued Dubizzle at around $2 billion.
Backed by Prosus and Affinity Partners, Dubizzle has been preparing for an IPO since 2023. The classifieds platform operates across MENA, deriving nearly 90% of its revenue from the UAE, and entered Saudi Arabia in 2024.
The postponement marks a rare reversal in the region’s IPO wave, which has seen more than $50 billion raised since 2022.
