IPO
By the end of 2024, the Dubai and Abu Dhabi stock exchanges' market cap exceeded $1.06 trillion
The company will trade under the ticker symbol “TALABAT”
Final share price has been set at AED1.60, valuing the company at around AED37.3 billion ($10.1 billion)
The additional 1,164,412,032 offer shares have been wholly allocated to the qualified investor offering
Revenue for the quarter rose 6 percent YoY to $1.86 billion
The offer price range has been set between AED1.50 and AED1.60 per share
Lulu is now listed under the ticker "LULU"
Admission of the shares for trading is expected to take place on or around December 10
The pro forma net profit reached AED110 million, showcasing a robust net profit margin of 9 percent
Outlook for the GCC IPO market remains positive with a healthy IPO pipeline of companies from a diverse range of sectors
The offering garnered aggregate demand exceeding $37 billion from local, regional, and international investors