Dubizzle’s parent company, Emerging Markets Property Group (EMPG), is reportedly considering an initial public offering (IPO) in the United Arab Emirates. EMPG, which operates popular classifieds websites Dubizzle and Bayut, is said to have hired Rothschild & Co. to explore the potential listing in Dubai or Abu Dhabi. Details of the IPO, such as its size and timing, remain tentative and subject to change.
However, if it goes ahead, EMPG’s IPO would test investor appetite for startups in the UAE, which has traditionally seen listings by state-owned companies. In recent years, more private and family-owned firms have also been exploring listings, despite market volatility and subdued valuations.