For its initial public offering (IPO), Lulu Retail announced an offer price on Monday that ranged from Dh1.94 to Dh2.04 per share, indicating a market capitalisation of Dh20.04 billion to Dh21.07 billion. All investors can sign up from October 28 to November 5. On November 6, 2024, the final offer price is anticipated to be revealed after a book-building procedure. Over 2.582 billion (2,582,226,338) shares, or 25% of all issued shares, will be sold by Lulu Retail Holdings.
The first tranche will offer 258.222 million shares, or 10% of the offer share, for individual subscribers and eligible employees to subscribe. The minimum guaranteed allocation for each subscriber, excluding eligible workers, will be 1,000 shares, while the minimum guaranteed allocation for each eligible employee will be 2,000 shares. Individual investors can sign up through Abu Dhabi Commercial Bank, First Abu Dhabi, Dubai Islamic Bank, Emirates Islamic Bank, Mashreq, and Emirates NBD.
Lulu Retail intends to sell 2,298,181,441 shares, or 89% of the off-share, under the second tranche for institutional investors. A minimum application size of Dh5 million is required and there is no maximum application size.
More than 25.822 million shares—or 1% of the offer share—will be sold to senior executives for third tranche. The minimum application amount is Dh50,000, and each further application must be submitted in Dh1,000 increments. There is no upper limit on the size of their applications.
Subject to the regulations of the GCC, both Indian investors and residents may subscribe to the Lulu Retailer IPO.
Retailers that get subscriptions from banks might approach stock brokers in UAE. People can belong to syndicate, which has over 20 banks. Obtaining a National Investor Number (NIN) through brokerages is the primary prerequisite for subscribing to IPOs in UAE.
Investors from other countries can access information and instructions on the websites of UAE brokerages.
