UAE’s largest retailer IPO; 258.2 crore Lulu share sale from today

Abu Dhabi : Lulu Hypermarket’s share sale has started today. 25 percent shares (258.2 crore) will be listed on the Abu Dhabi Stock Exchange through a three-phase IPO till November 5.
89% of the shares will be reserved for institutional investors (QIBs), 10% for small (retail) investors and 1% for employees.
The final share price will be announced on November 6. Retail investors
will receive an SMS regarding the allotment on November 12. The shares will be listed on the Abu Dhabi Stock Exchange on November 14.
Lulu’s is one of the biggest IPO listings this year in the UAE . Lulu will also have the distinction of being the largest retailer IPO in the UAE and the largest private company IPO in the UAE.