UAE’s LuLu Group set for IPO next year as it plans expansion – The National

UAE’s LuLu Group set for IPO next year as it plans expansion – The National

Abu Dhabi’s LuLu Group International is planning to launch an initial public offering next year and has hired investment bank Moelis to advise it on the deal, according to a company representative.

The move comes as the retail conglomerate plans to expand its operations across the Middle East.

“The market sentiment right now is strong and we are confident about the IPO next year,” V Nandakumar, director of marketing and communications at the LuLu Group, told The National on Thursday.