October 23, 2024 12:09 PM

UAE retail giant Lulu announces $1.8 billion IPO on Abu Dhabi Exchange

Lulu Retail Holdings, the largest pan-GCC retailer, announced plans to list 25% of its shares on the Abu Dhabi Securities Exchange (ADX), in what is set to be one of the region's most significant retail sector IPOs. The company will offer 2.58 billion ordinary shares through its sole shareholder, Lulu International Holdings Limited. The subscription period will run from October 28 to November 5, 2024, with trading expected to commence around November 14. The final offer price will be determined...