Lulu Retail Holding Company's shares will be listed on the Abu Dhabi Securities Exchange on the First Market - Category One, commencing Thursday, November 14.
A statement released on Monday indicated that the company's shares will be listed in the consumer goods sector under the symbol LULU and the international identification number AEE01487L240.
In accordance with market regulations, the company's share price will fluctuate without the daily limits of 15% upward and 10% downward for the initial three trading sessions, permitting unrestricted price movement during this timeframe.
The ruling stipulates that the reference price for the company's shares in the inaugural trading session would be the final offering price of the public subscription, set at AED 2.04.
On October 28, 25% of the shares of Lulu Retail Holding Company were offered, totaling 2,582.2 million shares, which was subsequently increased by 30% to 3,098.7 million shares.
The sale was oversubscribed by almost 25 times across all tranches (excluding cornerstone investors), with total orders amounting to AED 135 billion (about $37 billion).