With LuLu’s announced offering, law firms consolidate their involvement in dynamic, billion-dollar IPO activities in the Middle East.
Indian Billionaire Yusuff Ali To List Retail Giant Lulu In What Could Be U.A.E.’s Biggest IPO This Year
Indian billionaire Yusuff Ali’s Lulu Retail Holdings plans to sell 25% of the company and list the share on the Abu Dhabi Securities Exchange next month.
Banks provide Dhs81.2 billion in financial facilities to SMEs in H1
The cumulative balance of facilities and loans extended by banks operating in the UAE to small and medium-sized enterprises (SMEs) reached Dhs81.2 billion by the end of the first half of 2024, …
UAE lender ADCB posts 23% rise in Q3 net profit, beats estimates
Abu Dhabi Commercial Bank beat forecasts with a 23% rise in third-quarter profit on Wednesday helped by factors such as a jump in fee and commission income.
Nasdaq Dubai welcomes DIB’s listing of $500mln AT1 Sukuk
With this listing, Nasdaq Dubai further cements its position as a leading global hub for Sukuk, with total outstanding Sukuk now reaching $93 billion across 102 listings and a combined $133 billion in …
UAE-Based Lulu Retail Gets Set For IPO In Abu Dhabi
UAE-based Lulu Retail Holdings PLC (Lulu Retail) has announced an initial public offering (IPO) that will see it list its shares on the Abu Dhabi Securities Exchange (ADX). Lulu Retail, a major …
IMF hikes UAE’s GDP growth forecast to 5.1% for 2025
This comes as IMF raised the Emirates’ 2024 growth forecast earlier in May on the back of strong economic growth …
UAE bank to deduct funds from customers’ accounts that were not debited during system upgrade
Dubai Islamic Bank (DIB) has sent out an email to its customers that it will deduct money that was processed during the system upgrade earlier this year but was not debited from the customers’ …
Lulu IPO: Can investors outside UAE subscribe? Process explained
The Abu Dhabi-headquartered pan-GCC retailer will sell 25 per cent of its shares with a nominal value of Dh0.051 each …
Dubai unveils Ignyte to empower 100,000 start-ups
Dubai has launched a new digital platform to accelerate the growth of more than 100,000 start-ups and entrepreneurs, the Dubai Government Media Office announced on Tuesday. Ignyte, launched by Sheikh …
Dubai to give 100,000 startups a $100m boost with Ignyte digital platform: Sheikh Hamdan
Dubai International Financial Centre will curate more than $100m of perks for startups and entrepreneurs with the launch of a new digital platform for businesses. Sheikh Hamdan bin Mohammed bin Rashid …
UAE retailer Lulu sees ‘strong demand’ for its IPO share sale
The company will sell over 2.582 billion shares through a three-tranche IPO which will start on October 28 and close on November 5 …
Ripple’s managing director of ME Reece Merrick keen to launch RLUSD stablecoin in UAE
Speaking to Reece Merrick, Managing Director, Middle East and Africa, about the recent announcement and Ripple’s presence …
Finance House to inject AED 300mn into Abu Dhabi’s ADX for market liquidity
Finance House and Finance House Securities have signed an agreement with the Abu Dhabi Securities Exchange (ADX), aimed at boosting liquidity and market stability. Under the agreement, Finance House …
ADIB named Best SME Bank in UAE by Global Finance Awards
ABU DHABI: Abu Dhabi Islamic Bank (ADIB) announced it has been recognised as the Best Bank for Small and Medium Enterprises (SMEs) in the UAE by the 2025 Global Finance Awards. This accolade …
Dubai real estate sector logs record 18,038 transactions in September with 73% for off-plan properties; sales range from $34,000 to $75m
The Dubai real estate market recorded an all-time high of 18,038 transactions in September, with almost three quarters (73 per cent) for properties under construction having been sold off-plan, …
UAE-based retailer Lulu CEO on the firm’s IPO announcement
Saifee Rupawala, UAE supermarket Lulu CEO, speaks to CNBC’s Dan Murphy about the firm which is expected to start trading on the Abu Dhabi Securities Exchange.