Lulu's IPO Prep

Lulu's IPO Prep

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  • The Lulu Group, a prominent hypermarket chain and mall operator based in Abu Dhabi, with a presence in more than 20 countries, intends to secure Dh 10 billion in funds. This move comes ahead of a potential IPO in the coming year. The aim is to utilize these funds for refinancing current debts. 
  •  A representative from the company stated that this injection of capital will enable them to settle their existing financial obligations. Additionally, they plan to expand their reach by establishing 80 new hypermarkets across the GCC, Egypt, and other locations. The funds will also be directed towards improving supply chain networks and enhancing ecommerce capabilities. These efforts are expected to have a positive impact on the economies of the regions in which the company operates.

Why it matters

During 2020, an investment company supported by the royal family of Abu Dhabi acquired a 20% ownership share in the Lulu Group. This was achieved through a substantial investment of $1 billion into the mall operating company established by Indian entrepreneur Yusuff Ali.


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