Lulu Retail Holdings Plc offering size increased to cater for significant international, regional demand

Lulu Retail Holdings PLC (“Lulu Retail”, oregon “Lulu”, and unneurotic with its subsidiaries, the Group), contiguous announced an summation successful the size of its archetypal nationalist offering (IPO” oregon the Offering) connected the Abu Dhabi Securities Exchange (ADX).

The full Offering size has been accrued to 3,098,671,605 (three cardinal ninety-eight cardinal six 100 seventy-one 1000 six 100 and five) mean Shares from the antecedently announced 2,582,226,338 (two cardinal 5 100 eighty-two cardinal 2 100 twenty-six 1000 3 100 and thirty-eight) mean Shares.

The Offering size present represents 30% (previously 25%) of the full issued Shares successful the Company (the “Offer Shares”), which are to beryllium sold by the Company’s sole shareholder, Lulu International Holdings Limited (the “Selling Shareholder”). The further 516,445,267 Offer Shares person been wholly allocated to the Qualified Investor Offering (Tranche Two), accessible to Professional Investors only, arsenic defined successful the Local Prospectus.

The Offer Price Range is unchanged astatine betwixt AED 1.94 and AED 2.04 per Share. Assuming each the shares offered are sold, the full size of the Offering has been revised to betwixt AED 6.01 cardinal (c. $1.64 billion) and AED 6.32 cardinal (c. $1.72 billion). Based connected the Offer Price Range, Lulu Retail is acceptable to database with a marketplace capitalization of betwixt AED 20.04 cardinal (c. $5.46 billion) and AED 21.07 cardinal (c. $5.74 billion).

The last connection terms (“Final Offer Price”) volition beryllium determined done a publication gathering process and is expected to beryllium announced connected Wednesday 6 November 2024.

Admission of Lulu Retail Shares to trading connected the Abu Dhabi Securities Exchange (ADX) (the “Admission”) nether ticker awesome “LULU” is expected to instrumentality spot connected Thursday 14 November.

Saifee Rupawala, Chief Executive Officer of Lulu Retail, said: “The established pan-GCC beingness of Lulu Retail and our wide strategy for maturation has attracted a highly divers capitalist base, and we’re pleased to summation the full size of the Offering to cater to the important level of request received from international, determination and section investors, and the inclusion of further cornerstone investors to the IPO.”

Lulu Retail besides announced contiguous the summation of Masarrah Investment Company (Masarrah Invest) arsenic a Cornerstone Investor, joining the antecedently announced Cornerstone Investors (i) Abu Dhabi Pension Fund (ADPF), (ii) Bahrain Mumtalakat Holding Company Co. B.S.C. (Mumtalakat), (iii) Emirates International Investment Company LLC (EIIC) and (iv) Oman Investment Authority (OIA).

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