The Lulu Retail Holdings PLC has announced the price range for the sale of its shares and the start of the subscription period for its IPO on the Abu Dhabi Stock Exchange (ADX).
Publish dateTuesday 29 October 2024 - 10:49
According to Amac News: The announcement of Lulu Retail Holdings PLC stated that the subscription period starts today and is expected to start on Tuesday, November 5, 2024 for the UAE retail offering, qualified senior executives and for professional investors be closed.
It is stated in the announcement that the range of the proposed price is between 1.94 and 2.04 dirhams for each share. Assuming that all the offered shares are sold, the offering volume will be between 5.01 billion dirhams and 5.27 billion dirhams.
Based on the proposed price range, Lulu Retail is set to list with a market capitalization of between AED 20.04 and AED 21.07 billion.
A total of 2,582,226,338 ordinary shares, representing 25% of the total issued shares in the company, are to be sold by the company's sole shareholder, Lulu International Holdings Limited.
According to its dividend policy, this company has targeted the total dividend payment ratio of 75% of the annual distributable profit after tax deduction. The company aims to pay dividends for the six months ending December 31, 2024 in the first half of 2025.
The total commitment of all cornerstone investors under the cornerstone investor agreements is approximately AED 753 million, of which EIIC has committed to share US$100 million.
It is stated in the announcement that the range of the proposed price is between 1.94 and 2.04 dirhams for each share. Assuming that all the offered shares are sold, the offering volume will be between 5.01 billion dirhams and 5.27 billion dirhams.
Based on the proposed price range, Lulu Retail is set to list with a market capitalization of between AED 20.04 and AED 21.07 billion.
A total of 2,582,226,338 ordinary shares, representing 25% of the total issued shares in the company, are to be sold by the company's sole shareholder, Lulu International Holdings Limited.
According to its dividend policy, this company has targeted the total dividend payment ratio of 75% of the annual distributable profit after tax deduction. The company aims to pay dividends for the six months ending December 31, 2024 in the first half of 2025.
The total commitment of all cornerstone investors under the cornerstone investor agreements is approximately AED 753 million, of which EIIC has committed to share US$100 million.
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Source : news agency wam
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