Lulu Retail Holding PLC, which is scheduled to float its shares on the Abu Dhabi Securities Exchange, has set Tuesday as the date to announce the allocation of its shares.
The company indicated in a statement that it is planned to send allocation notices to the participants in the subscription within the first tranche, which includes individuals, and the third tranche, which includes the company’s senior executives.
On October 28, the company offered 25 percent of its shares for public subscription, equivalent to 2,582.2 million shares. The offering size was then increased to 3,098.7 million shares, equivalent to 30 percent, of which approximately 258.2 million shares were allocated to individual investors.
Last Tuesday, the subscription period for the company’s shares ended, while the excess subscription amounts and the profits resulting from them will be returned to the subscribers of the first and third tranches tomorrow, Wednesday, November 13, 2024.
The company announced last Wednesday the successful completion of its initial public offering (IPO) on the Abu Dhabi Securities Exchange, setting the final offering price at the top end of the price range of AED 2.04 per share.
The offering size amounted to AED 6.32 billion (approximately $1.72 billion), and was covered more than 25 times across all tranches (excluding cornerstone investors).
Lulu Retail Holdings PLC is expected to be admitted to listing and trading of its shares on the Abu Dhabi Securities Exchange (ADX) on or about Thursday, November 14, under the trading symbol LULU and ISIN AEE01487L240.
