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10/29/24, 12:06 PM Lulu IPO: Retailer aims to raise up to $1.43bn from Abu Dhabi listing | The National
Lulu Group expects 'strong macroeconomic growth' across its network, driven by favourable demographic and
consumption trends. The National
Business Markets
Lulu IPO: Retailer aims to raise up to $1.43bn from Abu Dhabi listing
Company expects to start trading on the ADX on November 14
Alvin R Cabral
October 28, 2024
UAE retail major Lulu Group is aiming to raise up to Dh5.27 billion ($1.43 billion) from its initial
public offering in Abu Dhabi, which would make it the largest listing in the UAE so far this year, as
the company seeks to tap into the UAE's economic momentum and market strength.
The hypermarket chain operator set the price range for the IPO on the Abu Dhabi Securities
Exchange at Dh1.94 and Dh2.04 per share, it said in a statement on Monday. The company plans to
float 2,582,226,338 shares on the ADX's main bourse, and based on its offer price range, the
company would have a market valuation of up to Dh21.07 billion ($5.74 billion) on the listing, it
said.
https://www.thenationalnews.com/business/markets/2024/10/28/lulu-ipo-abu-dhabi-listing/ 1/4
