Close Menu
  • WORLD
  • UAE
  • Business
  • Entertainment
  • Lifestyle
  • Sports

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

What's Hot

Telegram’s TON Token Soars as UAE Offers Golden Visa for Crypto Stakers

July 6, 2025

4 Cosy Library Cafés in Dubai Every Book Lover Should Visit

July 5, 2025

6 Coolest Beach Clubs in Dubai to Beat the Summer Heat in Style

July 5, 2025
Facebook X (Twitter) Instagram
Facebook X (Twitter) Instagram Vimeo
Dubai.News: Stay Updated With The Latest UAE & Global News
Subscribe Login
  • WORLD
  • UAE
  • Business
  • Entertainment
  • Lifestyle
  • Sports
Dubai.News: Stay Updated With The Latest UAE & Global News
  • Home
  • UAE
  • Middle East
  • WORLD
  • Entertainment
Home - Business - LuLu Group Plans Abu Dhabi IPO in Major Listing Move
Business

LuLu Group Plans Abu Dhabi IPO in Major Listing Move

Gulf Retail Giant Aims for $5 Billion Valuation in One of 2024's Largest Middle East IPOs
Suhail HasanBy Suhail HasanOctober 21, 20242 Mins Read
Share Facebook Twitter WhatsApp Email LinkedIn Telegram

As the Middle East’s largest hypermarket chain, LuLu Retail Holdings Plc is preparing for a massive IPO on the Abu Dhabi stock exchange that is tipped to be one of the heftiest offerings in the region for the year. LuLu’s owners intend to float 2.58 billion shares which is 25 per cent of the company’s stake, the offering opens on October 28. The true cost will be established on 6 November while the firm will go public on 14 November.

Lulu Group which was started by the prominent Indian businessman AbdulRI Zamzami alias Yussuf Ali in early 1990s when the gulf region was in its oil bonanza seems to have a worth of at least $5 billion now. With annual revenue of almost $ 8 billion, LuLu group has more than 230 outlets located in 26 countries in the Middle East, Asia, USA and Europe and has more than 70,000 employees.

What started as a bid for a dual listing in Riyadh has now transformed in to an IPO exclusively for Abu Dhabi. Last week; Spinneys 1961 Holding Plc, a new entrant in Dubai listed its IPO and this also is likely to pull a lot of interest to the listing.

LuLu’s IPO is advisory of which international investment banks such as Abu Dhabi Commercial Bank PJSC, Citigroup Inc., Emirates NBD Capital, and HSBC Holdings Plc.

Print Friendly, PDF & Email
Share. Facebook Twitter WhatsApp Email Copy Link
Previous ArticleDubai Airport to Go Passport-Free with AI and Biometric Technology
Next Article Cristiano Ronaldo’s Al Nassr Set for High-Stakes Clash in Dubai Amid Ticket Rush
Suhail Hasan

Suhail Hasan is a British businessman and entrepreneur who is the COO of Fame and guest author of Dubai News.

Related Posts

Abu Dhabi Announces Public Bus Timings and Closures for Hijri New Year 1447

June 27, 2025

Team Abu Dhabi Begins 2025 UIM F2 World Championship in Italy

June 27, 2025

Abu Dhabi Launches First Public Test Flight of Passenger eVTOL Aircraft

June 14, 2025

Aldar Unveils $10.9 Billion Fahid Island in Abu Dhabi with 6,000 Luxury Homes

June 3, 2025
Demo
Just In

Telegram’s TON Token Soars as UAE Offers Golden Visa for Crypto Stakers

July 6, 2025

4 Cosy Library Cafés in Dubai Every Book Lover Should Visit

July 5, 2025

6 Coolest Beach Clubs in Dubai to Beat the Summer Heat in Style

July 5, 2025

Dubai Launches New Scheme to Help First-Time Property Buyers

July 2, 2025
  • Twitter
  • Instagram
Don't Miss
Cryptocurrency

Telegram’s TON Token Soars as UAE Offers Golden Visa for Crypto Stakers

UAE has introduced a new residence program that will allow a 10-year stay in the…

Print Friendly, PDF & Email

4 Cosy Library Cafés in Dubai Every Book Lover Should Visit

July 5, 2025

6 Coolest Beach Clubs in Dubai to Beat the Summer Heat in Style

July 5, 2025

Dubai Launches New Scheme to Help First-Time Property Buyers

July 2, 2025

Subscribe to Updates

Get the latest updates from Dubai News.

About Us
About Us

Dubai News (Formerly Fame News) is a leading news platform founded by Sheeraz Hasan, covering UAE and international news, entertainment, and technology. It is a sister concern of Fame by Sheeraz.

Email Us: sheeraz@fame.me

Facebook X (Twitter) Instagram

Subscribe to Updates

Get the latest news from Duabai News about UAE and international news, entertainment, and technology.

Facebook X (Twitter) Instagram LinkedIn
  • About Us
  • Contact Us
  • Terms of Service
  • Privacy Policy
A Fame By Sheeraz Media Company.

Type above and press Enter to search. Press Esc to cancel.

Sign In or Register

Welcome Back!

Login to your account below.

Lost password?