Lulu Retail announces 25% IPO on Abu Dhabi Securities Exchange, offering 2.58 billion shares.
Lulu Retail Holdings PLC has announced an Initial Public Offering (IPO) to sell 25% of its shares on the Abu Dhabi Securities Exchange. The offering will consist of over 2.58 billion shares and is open to UAE retail and professional investors from October 28 to November 5. Shares are expected to be listed on November 14. Lulu aims to maintain a 75% dividend payout ratio and has seen increased investor interest amid a surge in UAE IPOs.
October 21, 2024
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