2023-05-17 12:40:54
President of the “Dubizzle Group”: the corporate structure of the group will remain unchanged
EMPG, the owner of Bayut and Dubizzle in the UAE, has announced the change of the group’s name to officially the “Dubizzle Group”, in preparation for a new phase of growth.
that comes Less than two months later The EMPG Group, which operates online sites popular with expatriates in the UAE, has announced an initial public offering, Bloomberg reported, citing informed sources, last March.
The head of the “Dubizzle Group” in the Middle East and North Africa, Haider Ali Khan, said in a statement that the institutional structure of the group will remain unchanged, and all brands operating under its supervision will continue to provide services to its users as usual, which mainly constitute the Middle East, North Africa and South Asia. Southeast Asia.
Khan explained that the company includes “Dubizzle” and “Biota” in the UAE, “Zamin” in Pakistan, “OLX” in the Middle East, North Africa and Pakistan, and “La Modi” in Indonesia and the Philippines.
Dubizzle gets more than 190 million page views on average each month, which is far outnumbered by the region’s population.
After a recent merger with OLX Group in 2020 and a successful investment round, EMPG is now valued at more than $1 billion, making it one of the few billionaire companies in the region.
Bloomberg reported at the end of March that Rothschild & Co. is set to hire for a possible listing in Dubai or Abu Dhabi.
The agency said offering details such as size and timing are still preliminary and may change. Other banks may still be invited to make an offer to work on the deal.
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