«لولو» تطرح 25٪ من أسهمها للاكتتاب في سوق أبوظبي

"LULU" Group to Offer 25% of Its Shares for Subscription on the Abu Dhabi Stock Exchange

LULU Group, a leading retailer in the GCC region, has announced plans to launch an Initial Public Offering (IPO) on the Abu Dhabi Stock Exchange (ADX). The company will offer 25% of its shares to the public, marking a significant milestone in its growth journey.

Key Highlights of the IPO:

• Subscription Period: The subscription period for the IPO will commence on Monday, October 28th, 2024, and will conclude on November 5th, 2024, for individual investors in the United Arab Emirates, professional investors, and eligible executive officers.
• IPO Price: The final IPO price will be determined through a book-building process.
• Dividend Distribution: LULU Group aims to maintain a total dividend payout ratio of 75% of its annual distributable profits after taxes, with dividends being paid semi-annually. The company plans to distribute dividends for the six months ending December 31, 2024, in the first half of 2025.
• Listing Date: The shares are expected to be admitted to trading on the Abu Dhabi Stock Exchange on Wednesday, November 14th, 2024.

LULU Group's Strong Financial Performance

LULU Group has a proven track record of robust growth. In the first half of 2024, the company achieved total earnings before interest, taxes, depreciation, and amortization (EBITDA) of approximately $391 million, reflecting a 4.3% year-on-year increase.

The company's revenue for 2023 reached $7.27 billion (AED 26.7 billion), a significant increase from $6.89 billion in the previous year.

LULU Group's Vision and Expansion Plans

LULU Group is committed to maintaining a strong financial performance and expanding its presence in the GCC region. The company currently operates over 240 stores across the Gulf countries, including 11 branches in the Kingdom of Bahrain, with plans to open two additional branches in the Kingdom. The company is also planning to open a branch in "The Avenues" shopping mall. The company is known for its wide range of products and services, and its commitment to providing its customers with a high-quality shopping experience.

Yousef Ali, founder and chairman of LULU Group, expressed his pride in launching the IPO, stating that the company has exceeded its expectations and is synonymous with retail in the GCC region.

This IPO is expected to further enhance LULU Group's position as a leading retailer in the GCC region and provide investors with an opportunity to participate in the company's continued growth.