CosmicTaco

Lulu Retail's Record-Breaking $1.43B IPO in UAE

CosmicTaco · 2024-11-04T16:21:58.645565+05:30

- Lulu Retail Holdings Plc's IPO in Abu Dhabi is set to raise $1.43 billion, making it the UAE's biggest listing of the year. - The IPO is expected to be priced at 2.04 dirhams per share, with a market capitalization of 21.1 billion dirhams. - Significant demand for shares was noted since the books opened, surpassing NMDC Energy’s $877 million share offer. - Lulu plans to sell a 25% stake, equivalent to 2.58 billion shares, with final pricing expected on November 6 and trading to start on November 14. - The company, founded by Yusuff Ali, aims to open 90 new stores in the GCC over the next five years, focusing on Saudi Arabia and the UAE. Source: [Mint](https://www.livemint.com/market/ipo/lulu-retail-holdings-expects-to-raise-1-43-billion-from-its-abu-dhabi-ipo-11730709769813.html), [Hindustan Times](https://www.hindustantimes.com/business/lulus-abu-dhabi-ipo-set-to-become-uaes-biggest-listing-in-2024-raise-1-43-billion-101730707092179.html)

Lulu Retail Holdings Plc's IPO in Abu Dhabi is set to raise $1.43 billion, making it the UAE's biggest listing of the year.
The IPO is expected to be priced at 2.04 dirhams per share, with a market capitalization of 21.1 billion dirhams.
Significant demand for shares was noted since the books opened, surpassing NMDC Energy’s $877 million share offer.
Lulu plans to sell a 25% stake, equivalent to 2.58 billion shares, with final pricing expected on November 6 and trading to start on November 14.
The company, founded by Yusuff Ali, aims to open 90 new stores in the GCC over the next five years, focusing on Saudi Arabia and the UAE.

Source: Mint, Hindustan Times