Lulu Retail Set to Go Public in Abu Dhabi, Poised to Become UAE's Largest IPO of the Year at $1.43 Billion

Forex - Lulu Retail's initial public offering in Abu Dhabi is expected to occur at the upper end of the planned price range, making it the largest IPO in the United Arab Emirates this year at $1.43 billion. According to the deal terms seen by Bloomberg News, the offering is expected to be priced at 2.04 dirhams per share. This represents the top of a range starting at 1.94 dirhams and implies a market value of 21.1 billion dirhams for the retailer.