Lulu plans to meet investors, offer 25% of its shares in Abu Dhabi

Global conglomerate Lulu Group is gearing up to start evaluating investor interest in its public offering, and is preparing for what could be one of the region’s largest initial public offerings this year.

The world-famous Lulu Group will hold meetings with investors starting tomorrow, according to Bloomberg, and is seeking a valuation of at least $5 billion, to float 25% of its shares on the Abu Dhabi Stock Exchange.

Lulu Group International was valued at more than $5 billion in 2020, when an Emirati investment firm led by Sheikh Tahnoon bin Zayed Al Nahyan acquired a 20% stake in the group.

Lulu was valued at more than $5 billion in 2020, when an Abu Dhabi investment firm bought a 20% stake worth just over $1 billion in the group.

Lulu was founded by Indian businessman Yusuff Ali in the early 1990s, during the oil boom years in the Gulf region. It has annual revenues of about $8 billion, employs more than 70,000 people, and operates in 26 countries in the Middle East, Asia, the United States and Europe, according to its website.

Lulu had sought offers from investment banks for a 2022 listing before shelving those plans.

Lulu Hypermarket UAE is a large and multi-departmental retail chain, known for providing a wide range of products at competitive prices. Lulu has many branches across the UAE, making it a preferred shopping destination for many.

What makes Lulu special?

Product Diversity: Lulu offers a wide range of products that include fresh food in the UAE, consumer goods, electronics, home appliances, fashion, and much more.

Quality and Prices: Lulu is keen to provide high-quality products at affordable prices, making it a suitable destination for all segments of society.
Offers and Discounts: Lulu offers continuous offers and discounts on many products, which contributes to saving more money for customers.
Services: Lulu offers many additional services such as home delivery service, electronic payment service, and excellent customer service.