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LuLu Retail wins ‘Best IPO in the Middle East' award
LuLu Retail wins ‘Best IPO in the Middle East' award

Arab News

time25-06-2025

  • Business
  • Arab News

LuLu Retail wins ‘Best IPO in the Middle East' award

LuLu Retail Holdings, the region's leading full-line retailer, has been honored with the prestigious 'Best IPO in the Middle East' award by EMEA Finance magazine. The recognition was presented at the annual EMEA Finance Achievement Awards 2024, held in London on June 22. The accolade celebrates LuLu Retail's landmark initial public offering, which successfully raised $1.7 billion in Q4 2024, and marked the company's official listing on the Abu Dhabi Securities Exchange. The IPO drew widespread investor interest and was one of the most anticipated public listings in the region, reinforcing strong market confidence in the group's growth trajectory, financial resilience, and retail leadership. The EMEA Finance Achievement Awards are regarded as a benchmark of excellence in capital markets across Europe, the Middle East, and Africa. Winners are selected by the editorial board from a pool of nominations submitted by investment banks, corporates, and market participants. The awards spotlight the most impactful and innovative financial transactions spanning IPOs, debt issuance, Islamic finance, structured deals, and mergers and acquisitions. Saifee Rupawala, CEO of LuLu Retail Holdings, said: 'We are truly honored to receive this award, which reflects the strength of our business, the commitment of our team, and the trust placed in us by our investors. The IPO marked a transformative chapter for LuLu Retail, and we remain committed to delivering long-term value and sustainable growth.'

LuLu Retail wins 'Best IPO in the Middle East' Award at EMEA Finance Achievement Awards
LuLu Retail wins 'Best IPO in the Middle East' Award at EMEA Finance Achievement Awards

Times of Oman

time25-06-2025

  • Business
  • Times of Oman

LuLu Retail wins 'Best IPO in the Middle East' Award at EMEA Finance Achievement Awards

LuLu Retail Holdings PLC, the region's leading full-line retailer, has been honored with the prestigious 'Best IPO in the Middle East' award by EMEA Finance magazine. The recognition was presented at the annual EMEA Finance Achievement Awards 2024, held in London yesterday. The accolade celebrates LuLu Retail's landmark Initial Public Offering, which successfully raised US$1.7 billion in Q4 2024, and marked the company's official listing on the Abu Dhabi Securities Exchange (ADX). The IPO drew widespread investor interest and was one of the most anticipated public listings in the region, reinforcing strong market confidence in the Group's growth trajectory, financial resilience, and retail leadership. The EMEA Finance Achievement Awards are regarded as a benchmark of excellence in capital markets across Europe, the Middle East, and Africa. Winners are selected by the editorial board from a pool of nominations submitted by investment banks, corporates, and market participants. The awards spotlight the most impactful and innovative financial transactions spanning IPOs, debt issuance, Islamic finance, structured deals, and mergers and acquisitions. Saifee Rupawala, CEO of LuLu Retail Holdings, said: 'We are truly honored to receive this award, which reflects the strength of our business, the commitment of our team, and the trust placed in us by our investors. The IPO marked a transformative chapter for LuLu Retail, and we remain committed to delivering long-term value and sustainable growth.'

LuLu IPO to drive active expansion, says top executive
LuLu IPO to drive active expansion, says top executive

Zawya

time22-04-2025

  • Business
  • Zawya

LuLu IPO to drive active expansion, says top executive

The initial public offering (IPO) of LuLu Retail Holdings in November 2024 is seen to catalyse significant growth and expansion, according to a top official. According to Dr Mohamed Althaf, director, LuLu Group International, LuLu's milestone move at the Abu Dhabi Securities Exchange (ADX) has cemented regional trust in LuLu, while empowering the retail giant 'to pursue a bolder, more ambitious trajectory'. 'Our company went public. At some point in our business, we realised that it's time we should share our growth and prosperity with the region that has contributed and enabled our growth,' Dr Althaf told Gulf Times, describing the IPO as 'wonderful' and underscored its success in attracting major sovereign investors from across the region. According to Dr Althaf, the IPO provides LuLu with enhanced opportunities for active expansion, while maintaining its core business model. 'Structurally, fundamentally, our business model is not going to change,' he emphasised, adding that 'what will happen with the IPO is that maybe our expansions will become even more active. We believe that because we have a growth story to meet'. Dr Althaf further noted that the IPO is expected to introduce a shift in the company's governance structure, making it 'far more accountable and transparent'. This accountability and transparency, as well as the financial freedom brought by the IPO, will enable LuLu to expand its footprint into new markets while reinforcing its commitment to Qatar and the region, Dr Althaf pointed out. 'The IPO gives us the freedom and the responsibility that we should continue to invest in our business, stay focused, expand our footprint to markets, and stay committed to countries like Qatar in the region,' Dr Althaf further explained, stressing that LuLu remains deeply aligned with its host nation's development goals. Furthermore, Dr Althaf connected the IPO to LuLu's broader vision of innovation and sustainability. He noted that the company is actively leveraging digital transformation, cloud-based technologies, and AI tools to boost efficiency and achieve sustainability goals. He cited advancements in areas like cold chain management, energy reduction, and e-commerce as examples of LuLu's commitment to progress. 'We will continue to invest in Qatar. We will continue to expand in Qatar. We will do experiments and move ahead,' emphasised Dr Althaf, who reaffirmed the company's dedication to its host nation and the region. Dr Althaf further pointed out that the IPO marks a transformative phase for LuLu Retail, paving the way for active expansions, greater accountability, and a bold vision for sustained growth. On its website, LuLu Retail announced that the 'IPO raised gross proceeds of AED6.32bn making it the largest offering in the UAE in 2024 to date. The offering saw aggregate demand of over AED135bn from local, regional, and international investors, a record for a non-government UAE IPO over the past 10 years, and an oversubscription level of more than 25 times across all tranches (excluding Cornerstone Investors). Cornerstone investors included leading sovereign and institutional investors from across the GCC and beyond'. © Gulf Times Newspaper 2022 Provided by SyndiGate Media Inc. (

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