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Careem Reportedly Holds IPO Talks With Banks

by Forbes Middle East Forbes Middle East - Business News
Dubai-based ride-hailing app Careem is reportedly in preliminary talks with banks about an initial public offering, Bloomberg reported, citing anonymous sources close to the subject.
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The sources said that Careem could be valued at approximately $1.5 billion, and a share sale will probably start by the beginning of 2019.
We want to build a lasting tech institution from the region, and an IPO is a natural milestone for a rapidly growing business like Careem, Careem CEO and co-founder Mudassir Sheikha said in an emailed statement to Forbes Middle East. However, at this stage, we are fully focused on growing the platform to cover more cities, segments, and use-cases across the region.

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Created on Jan 22nd 2018 00:34. Viewed 160 times.

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