Lulu Retail Holding Company shares are expected to be listed for trading on the Abu Dhabi Securities Market in the First Market – Class One, starting next Thursday, corresponding to November 14.
The fund indicated in a statement issued today, Monday, that the shares of Lulu Retail Holding Company will be listed within the consumer goods sector, under the symbol LULU and the international identification number AEE01487L240.
According to the market’s decision and in accordance with the applicable rules, the company’s share price floats for three consecutive trading sessions at the beginning of listing, so that the price is not subject to the permissible daily rise and fall limits of 15% as the highest percentage, and 10% as the lowest, during these three sessions.
The decision stipulated that, for the purposes of calculating the percentage change in the trading price from the reference price in the company’s first trading session, the reference price for the company’s shares when it begins trading in the market is the final offering price for the public offering of 2.04 dirhams.
It is noteworthy that on October 28, 25% of the shares of Lulu Retail Holding Company were offered, equivalent to 2582.2 million shares, and the size of the offering was then increased to 3098.7 million shares, equivalent to 30%. The subscription was covered more than 25 times by All segments (excluding core investors), and total orders exceeded 135 billion dirhams (about 37 billion dollars).
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