The company said in a statement that the size of the total initial public offering had risen to 3,098,671,605 ordinary shares, after it had previously been announced that 2,582,226,338 ordinary shares had been offered.
According to the company’s statement, the size of the initial public offering now represents 30 percent of the total shares issued in the company by the company’s sole shareholder. Lulu International Holding Company Limitedcompared to 25 percent previously.
The additional 516,445,267 shares were fully allocated to the tranche allocated to qualified investors (the second tranche), available only to professional investors, as stated in the local subscription prospectus.
The company also confirmed that the price range for the offering shares will remain unchanged, ranging between 1.94 dirhams and 2.04 dirhams per share.
“If all the shares offered for public subscription are sold, the total size of the public offering will have been adjusted to between 6.01 billion UAE dirhams (about $1.64 billion) and 6.32 billion UAE dirhams (about 1.72 billion dollars),” according to the statement.
Depending on the price range of the offering shares, the market value of the company will range Lulu Retail When listed, it ranges between AED 20.04 billion (about $5.46 billion) and AED 21.07 billion (about $5.74 billion).
The final offering price will be determined through a book-building process, and is expected to be announced on Wednesday, November 6, 2024.
The shares are expected to be accepted for trading on the Abu Dhabi Securities Market on Thursday, November 14, 2024.
