Page 64 - SALIK PR REPORT OCTOBER 2024

UAE: Lulu IPO set to maintain trend

of heavy oversubscription, say

analysts

This could be the UAE’s largest IPO this year due to the robust growth of the retail sector, and a
strong dividend policy among other factors
Published: Mon 21 Oct 2024, 7:25 PM

Updated: Mon 21 Oct 2024, 8:49 PM

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The upcoming share sale by the retail giant Lulu Group next week is expected to be
another blockbuster IPO, maintaining the trend of strong oversubscription that previous
public offerings saw in the post-pandemic period.
The previous IPOs that were floated on the Dubai and Abu Dhabi bourses saw
tremendous response from retail and institutional investors, prompting some of them to
increase the amount of funds that they were looking to raise through the share sale.
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https://www.khaleejtimes.com/business/markets/uae-lulu-ipo-set-to-maintain-trend-of-heavy-
oversubscription-say-analysts