"A listing may be pursued through a secondary sale of shares by Delivery Hero which would retain the majority interest in the local listing entity after an IPO," Delivery Hero said in a statement.
Shares of Delivery Hero jumped nearly 10% Thursday on the back of the Talabat IPO news as of 7:30 a.m. ET, extending gains from earlier in the session amid a broader uptick in European shares.
The company did not disclose a valuation, share price target, volume of shares that it will list, or a specific timeline beyond the fourth-quarter indication.