We use cookies and similar technologies that are necessary to operate the website. Additional cookies are used to perform analysis of website usage. By continuing to use our website, you consent to our use of cookies. For more information, please read our Cookies Policy.
Closing this modal default settings will be saved.
LuLu Group International has enlisted the support of financial institutions for an IPO endeavour, potentially generating $2 billion for the hypermarket chain, Bloomberg reported.
Emirates NBD Capital, Abu Dhabi Commercial Bank (ADCB), Citigroup Inc and HSBC Holdings plc are reportedly collaborating on the proposed offering, alongside Moelis & Co, serving as an independent financial advisor.
The anticipated listing is slated for the Abu Dhabi Securities Exchange (ADX) and is scheduled for the latter half of the year.
With its international headquarters situated in the emirate, LuLu operates a network exceeding 260 stores across the GCC region.
According to Bloomberg's undisclosed sources, the company is contemplating a dual listing, potentially including the Saudi Arabian stock exchange Tadawul.
For any enquiries or information, contact ask@tlr.ae or call us on +971 52 644 3004. Follow The Law Reporters on WhatsApp Channels.
