Nov 04, 2024 01:47 PM IST
Lulu Retail Holdings Plc’s Abu Dhabi IPO could also be priced on the prime finish of the vary and lift $1.43 billion, making it the UAE’s greatest itemizing of the 12 months
Lulu Retail Holdings Plc’s Abu Dhabi preliminary public providing is more likely to worth on the prime finish of a deliberate vary and lift $1.43 billion, making it the United Arab Emirates’ greatest itemizing of the 12 months.
The corporate — based by Indian entrepreneur Yusuff Ali — plans to open about 90 shops throughout the Gulf over the following 5 years, with Saudi Arabia and the UAE slated as its primary enlargement markets. (Instagram/yusuffali.ma)
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Lulu Worldwide Holdings plans to promote 2.58 billion shares or a 25% stake within the agency. Ultimate pricing is anticipated on Nov. 6, and the shares are scheduled to start buying and selling on Nov. 14.
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The corporate — based by Indian entrepreneur Yusuff Ali — plans to open about 90 shops throughout the Gulf over the following 5 years, with Saudi Arabia and the UAE slated as its primary enlargement markets.
Abu Dhabi Business Financial institution PJSC, Citigroup Inc., Emirates NBD Capital and HSBC Holdings Plc are the joint world coordinators on the sale. Moelis & Co. is an advisor on the deal.
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