Page 159 - ALEF EDUCATION PR REPORT OCTOBER 2024

10/29/24, 12:06 PM Lulu IPO: Retailer aims to raise up to $1.43bn from Abu Dhabi listing | The National
Etihad Airways, the UAE's flag carrier, is also preparing for a potential listing, which would be a

first for a major Gulf airline as it pursues an ambitious growth strategy between now and 2030, its
chief executive Antonoaldo Neves told The National in March.

“We remain confident we will achieve our guidance targets in 2024 and beyond, and the offer price

range reflects our desire to prioritise a supportive aftermarket performance post-listing,” Mr

Rupawala said.

Lulu's revenue in the first half of 2024 rose 5.6 per cent to $3.9 billion after it reported a 5.6 per
cent annual increase in revenue last year to $7.3 billion. The UAE accounts for 36 per cent of its

total revenue, followed by Saudi Arabia at 19 per cent and Oman at 17 per cent.

Updated: October 28, 2024, 2:56 PM

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