Loading ...
Monday, October 21, 2024
UAE: Lulu IPO set to maintain trend of heavy oversubscription, say analysts
By Vijay Valecha in 'Century in News'
__1990471641.jpg)
Vijay Valecha, Khaleej Times, October 21, 2024
The upcoming share sale by the retail giant Lulu Group next week is expected to be another blockbuster IPO, maintaining the trend of strong oversubscription that previous public offerings saw in the post-pandemic period.
The previous IPOs that were floated on the Dubai and Abu Dhabi bourses saw tremendous response from retail and institutional investors, prompting some of them to increase the amount of funds that they were looking to raise through the share sale.
To name a few, utility services provider Dewa was oversubscribed 37 times, Salik 49 times, Parkin 165 times, Borouge 45 times and others.
Lulu Retail Holdings’ IPO will run from October 28 to November 5, offloading a 25 per cent stake through three tranches. This could be the UAE’s largest IPO this year due to the robust growth of the retail sector, and a strong dividend policy among other factors. It is expected that the final offer price will also be competitively priced, which will attract a wider investor base.
Joseph Dahrieh, managing principal at Tickmill, said the Lulu IPO, which is set to raise approximately $2 billion, could see significant interest and be oversubscribed.
Source
__1021887954.jpg)
__621562604.jpg)
__1251758305.jpg)
__704346262.jpg)
__1582608429.jpg)
Regulated by SCA
Century Financial Consultancy LLC
Reach us:
-
Dubai
6th Floor, Building 4, Emaar Square,
Downtown Dubai, P.O. Box 65777,
Dubai, United Arab Emirates -
Abu Dhabi
Office 3014, 30th Floor
Tamouh Tower, Building 12, Marina Square,
Al Reem Island, Abu Dhabi - +971 (4) 356 2800
- info@century.ae
Disclaimer: Trading in financial products carries risk. Trading in leveraged Over-The-Counter (OTC) Derivative products (including Contracts for Difference (CFDs) and spot foreign exchange contracts) involves a significant risk of loss which can exceed deposits and may not be suitable for all investors. OTC Derivative products / CFDs are complex financial instruments that do not confer any claim or right to the underlying financial instrument. Transactions in these instruments are very risky, and you should trade only with the capital you can afford to lose. Before deciding to trade on these products, you should consider your investment objectives, risk tolerance and your level of experience. Accordingly, you should ensure that you understand the risks involved and seek independent advice from professionals, if necessary.
Century Financial Consultancy LLC (CFC) is duly licensed and regulated by the Securities and Commodities Authority of UAE (SCA) under license numbers 20200000028 and, 20200000081 to practice the activities of Trading broker in the international markets, Trading broker of the OTC derivatives and currencies in the spot market, Introduction, Financial Consultation and Financial Analysis, and Promotion. CFC is a Limited Liability Company incorporated under the laws of UAE and registered with the Department of Economic Development of Dubai (registration number 768189). CFC has its registered office at 601, Level 6, Building no. 4, Emaar Square, Downtown, Dubai, UAE, PO Box 65777.
Any content available on our website is presented solely to provide information and educate visitors. Under no circumstances is any of this content meant to be construed as an offer, recommendation, advice, or solicitation to buy or sell securities or other financial products.
This website's information is not intended for use by anybody residing outside UAE or where such use would violate local laws or regulations.
