LuLu Retail Holdings has announced an increase in the size of its initial public offering (IPO) on the Abu Dhabi Securities Exchange (ADX).
The total offering size has been expanded to 3.098 billion shares, representing 30 per cent of the company's issued shares, up from 25pc previously announced.
The increase caters to high investor demand from international, regional, and local investors, including the addition of Masarrah Investment Company as a cornerstone investor.
The offer price range remains between AED 1.94 and AED 2.04 per share. The final price will be determined through a bookbuilding process on November 6, with listing expected on November 14.
Upon listing, Lulu Retail is projected to have a market capitalisation of between AED20.04 billion and AED21.07bn.
The offering remains open for subscription until November 5 for retail investors, eligible employees, senior executives, and professional investors.
The full details of the offering are available in the prospectus and public announcement documents on the company's website: www.luluretail.com/ipo/.
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