Company Insights Lulu Group Retail Lulu Group News Retail Food inflation leads to rise of Gulf discount operators Rising food costs in the Gulf over the last two years have spurred an increase in the number of discount operators entering the market. The food and beverage category of the UAE’s consumer price index rose from 100.3 in 2021 to 107.5 in 2022, and is forecast to rise further to 111.8 in 2023, according […] December 2, 2023 Retail Food store Kibsons says IPO could be on the table Kibsons, the family-owned food delivery company in the UAE, has said a potential listing of the business is “absolutely” on the table. Launched in 2016, it processes over 35,000 orders a week. And founder and CEO Halima Jumani says they are on target to hit $100 million in turnover this year. Jumani, who co-owns the […] October 17, 2023 Finance UAE mall operator Lulu plans a Gulf listing in 2024 Retail conglomerate Lulu Group International expects to launch its initial public offering (IPO) in the first half of 2024, said chairman and managing director Yusuff Ali. The IPO will be launched in the Gulf, but no specific stock exchange has been decided, Ali said on the sidelines at an event in New Delhi. The hypermarket […] September 12, 2023 Logistics Saudi logistics company SAL announces IPO Saudi Logistics Services Company – known as SAL – said on Tuesday it would launch an initial public offering of 30 percent of its shares on the Saudi market. It was not clear when the SAL IPO will take place. A statement said the price of each of the 24 million shares would be determined […] September 12, 2023 Retail GCC retail industry concern as shoppers move online The Gulf’s retail industry remains an area of concern amid ongoing changes in consumer spending habits. The Q2 2023 edition of the Middle East Turnaround and Restructuring Survey, published by professional services firm Alvarez & Marsal, found more than two-thirds of respondents anticipated continued pressures in the sector as consumers increasingly turn to digital shopping […] September 6, 2023 Finance Lulu Group said to raise $2.7bn before potential IPO Lulu Group International, the largest hypermarket chain operator in the Middle East, will raise AED10 billion ($2.72 billion) to refinance debt ahead of a potential initial public offering (IPO), Bloomberg reported, citing informed sources. The funding will be provided by Abu Dhabi Commercial Bank, Dubai Islamic Bank, Emirates NBD Bank and Mashreq Bank, with loans […] August 13, 2023 Retail LuLu Group to invest $1.2bn in India by 2026 LuLu Group will invest Rs 100 billion ($1.22 billion) in India over the next three years, chairman MA Yusuff Ali has confirmed. The UAE retail major has already put over Rs 200 billion in the country, state-owned Press Trust of India reported. The company has committed Rs 35 billion in Telangana state in south India […] June 27, 2023 Analysis UAE and Malaysia seek to grow $4.6bn trade with Cepa talks The UAE and Malaysia will embark on negotiations for a Comprehensive Economic Partnership Agreement (Cepa) after non-oil trade between the two countries last year grew to $4.6 billion. The Emirates are Malaysia’s 17th biggest trade partner globally and the second in the Middle East, accounting for 32 percent of Malaysia’s trade with Arab countries. Trade […] May 24, 2023 Energy Adnoc Gas IPO tipped to break record for Abu Dhabi exchange Adnoc’s listing of its gas business could take place as soon as this month – and become the largest IPO on the Abu Dhabi Securities Exchange, according to reports. The state-owned oil giant is looking at a valuation of at least $50 billion for Adnoc Gas, two sources close to the matter have told Reuters. […] February 3, 2023 Analysis Banking & Finance Middle East stock markets set to continue strong run of IPOs The stock markets in the Middle East and North Africa are preparing for a strong pipeline of initial public offerings (IPOs) in the coming months. Bourses across the region are looking to build on the success of 2022 when it saw a record number of 51 IPOs and combined proceeds of $22 billion. Abu Dhabi […] February 1, 2023 Posts navigation Previous 1 … 3 4 5 Next
Retail Food inflation leads to rise of Gulf discount operators Rising food costs in the Gulf over the last two years have spurred an increase in the number of discount operators entering the market. The food and beverage category of the UAE’s consumer price index rose from 100.3 in 2021 to 107.5 in 2022, and is forecast to rise further to 111.8 in 2023, according […] December 2, 2023
Retail Food store Kibsons says IPO could be on the table Kibsons, the family-owned food delivery company in the UAE, has said a potential listing of the business is “absolutely” on the table. Launched in 2016, it processes over 35,000 orders a week. And founder and CEO Halima Jumani says they are on target to hit $100 million in turnover this year. Jumani, who co-owns the […] October 17, 2023
Finance UAE mall operator Lulu plans a Gulf listing in 2024 Retail conglomerate Lulu Group International expects to launch its initial public offering (IPO) in the first half of 2024, said chairman and managing director Yusuff Ali. The IPO will be launched in the Gulf, but no specific stock exchange has been decided, Ali said on the sidelines at an event in New Delhi. The hypermarket […] September 12, 2023
Logistics Saudi logistics company SAL announces IPO Saudi Logistics Services Company – known as SAL – said on Tuesday it would launch an initial public offering of 30 percent of its shares on the Saudi market. It was not clear when the SAL IPO will take place. A statement said the price of each of the 24 million shares would be determined […] September 12, 2023
Retail GCC retail industry concern as shoppers move online The Gulf’s retail industry remains an area of concern amid ongoing changes in consumer spending habits. The Q2 2023 edition of the Middle East Turnaround and Restructuring Survey, published by professional services firm Alvarez & Marsal, found more than two-thirds of respondents anticipated continued pressures in the sector as consumers increasingly turn to digital shopping […] September 6, 2023
Finance Lulu Group said to raise $2.7bn before potential IPO Lulu Group International, the largest hypermarket chain operator in the Middle East, will raise AED10 billion ($2.72 billion) to refinance debt ahead of a potential initial public offering (IPO), Bloomberg reported, citing informed sources. The funding will be provided by Abu Dhabi Commercial Bank, Dubai Islamic Bank, Emirates NBD Bank and Mashreq Bank, with loans […] August 13, 2023
Retail LuLu Group to invest $1.2bn in India by 2026 LuLu Group will invest Rs 100 billion ($1.22 billion) in India over the next three years, chairman MA Yusuff Ali has confirmed. The UAE retail major has already put over Rs 200 billion in the country, state-owned Press Trust of India reported. The company has committed Rs 35 billion in Telangana state in south India […] June 27, 2023
Analysis UAE and Malaysia seek to grow $4.6bn trade with Cepa talks The UAE and Malaysia will embark on negotiations for a Comprehensive Economic Partnership Agreement (Cepa) after non-oil trade between the two countries last year grew to $4.6 billion. The Emirates are Malaysia’s 17th biggest trade partner globally and the second in the Middle East, accounting for 32 percent of Malaysia’s trade with Arab countries. Trade […] May 24, 2023
Energy Adnoc Gas IPO tipped to break record for Abu Dhabi exchange Adnoc’s listing of its gas business could take place as soon as this month – and become the largest IPO on the Abu Dhabi Securities Exchange, according to reports. The state-owned oil giant is looking at a valuation of at least $50 billion for Adnoc Gas, two sources close to the matter have told Reuters. […] February 3, 2023
Analysis Banking & Finance Middle East stock markets set to continue strong run of IPOs The stock markets in the Middle East and North Africa are preparing for a strong pipeline of initial public offerings (IPOs) in the coming months. Bourses across the region are looking to build on the success of 2022 when it saw a record number of 51 IPOs and combined proceeds of $22 billion. Abu Dhabi […] February 1, 2023
