Lulu Retail Holdings PLC, the UAE’s main pan-GCC retailer, has formally opened the subscription interval for its preliminary public providing (IPO) on the Abu Dhabi Securities Trade (ADX). The providing’s worth vary has been set between AED 1.94 and AED 2.04 per share, with the subscription window working till Tuesday, November 5, 2024, for UAE Retail Traders, Eligible Senior Executives, and Skilled Traders.
The IPO contains 2.58 billion shares, representing 25% of the corporate’s complete issued shares, all to be offered by the only shareholder, Lulu Worldwide Holdings Restricted. The anticipated market capitalization upon itemizing ranges between AED 20.04 billion and AED 21.07 billion, positioning the corporate for continued enlargement.
Strategic Traders Commit AED 753 Million
Cornerstone traders, together with Abu Dhabi Pension Fund, Bahrain Mumtalakat Holding, Emirates Worldwide Funding Firm (EIIC), and Oman Funding Authority, have dedicated to buying shares totaling AED 753 million, with a lock-up interval of 180 days post-listing.
Future Dividends and Itemizing Date
Lulu Retail intends to distribute dividends semi-annually at a payout ratio of 75% of annual distributable earnings after tax, with the primary dividend anticipated within the first half of 2025. The corporate is ready to debut on the ADX on Thursday, November 14, 2024, pending regulatory approval.
Traders can entry the prospectus and additional particulars on Lulu Retail’s official IPO web page at www.luluretail.com/ipo/.
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