Digital classifieds leader Dubizzle Group has postponed its planned initial public offering (IPO) on the Dubai Financial Market.
The company, which had intended to offer 30.34 per cent of its shares to investors, did not disclose the reasons for the delay or a revised timeline.
The delay was announced just ten days after Dubizzle revealed plans to go public, and only a day before the subscription window was due to begin.
Dubizzle said it had received strong investor interest following its IPO announcement, citing confidence in its profitability and growth potential in both the UAE and Saudi Arabia. However, it will now reassess market conditions to determine a more suitable time to proceed.
The group added that it remains focused on executing its long-term growth strategy, strengthening its UAE operations, and expanding further in the Kingdom.
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