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Computer Hardware, Electronics, Hardware

Market cap of UAE stock markets top $1trn in 2024

The combined market capitalisation of the Dubai Financial Market (DFM) and Abu Dhabi Securities Exchange (ADX) exceeded AED3.91 trillion ($1.06 trillion) in 2024, compared to AED3.65 trillion at the end of 2023. Growth was driven by a robust economy, foreign investments, and initial public offerings (IPOs), the UAE state-run Wam news agency reported. The ADX […]

Grocery business Mair Group listed on ADX this week. UAE IPOs raised over $6bn last year

ADX ripe for international investment, say asset managers

The Abu Dhabi Securities Exchange remains a sleeping giant for international investors despite the huge sums raised from recent ADX listings, speakers said this week at the emirate’s annual financial showcase. There have been 23 notable initial public offerings of UAE companies since the start of 2021 – 14 on the ADX and nine on […]

Clothing, Hardhat, Helmet

Adnoc looks at increased stake sale in gas subsidiary

UAE oil major Abu Dhabi National Oil Company (Adnoc) intends to sell an additional 3 to 5 percent of Adnoc Gas, according to a news report. A 5 percent stake sale may raise AED12.9 billion ($3.5 billion) based on Friday’s share price of AED3.48 on the Abu Dhabi Securities Exchange (ADX), Reuters reported citing informed […]

Based on the offer price range, Lulu is set to list with a market capitalisation of between AED20.04bn and AED21.07bn

High demand leads Lulu to upsize IPO stake to 30%

Lulu Retail Holdings has increased the size of its initial public offering (IPO) by 5 percent to 30 percent to potentially raise AED6.32 billion ($1.72 billion) on the Abu Dhabi Securities Exchange (ADX) following high demand from investors. The retail chain operator in the Middle East initially offered a 25 percent stake sale. The total […]

Lulu employs more than 65,000 people and operates 240 stores across the GCC

Lulu shrugs off rivals’ stock performance ahead of IPO

Lulu Retail Holdings, one of the Middle East’s largest hypermarket operators, has shrugged off the double-digit stock declines of its listed competitors as it kicked off its initial public offering, focusing on its expansion plans. The company is selling a 25 percent stake, and more than 2.5 billion shares are to be offered at a […]

A man shops in a Lulu supermarket in Muscat, Oman. The company has an annual revenue of $8 billion

Supermarket major Lulu officially announces IPO

UAE supermarket major Lulu is to list a 25 percent stake on the Abu Dhabi Securities Exchange (ADX). Over 2.5 billion shares of Lulu Retail Holdings, which is among the largest hypermarket chain operators in the Middle East, will be made available with a nominal value of $0.014.  “With GCC retail presenting a $100 billion […]

People, Person, Adult

ADNH Catering raises $235m from Abu Dhabi listing

ADNH Catering has raised AED864 million ($235 million) by selling 900 million shares, or a 40 percent stake, on the Abu Dhabi Securities Exchange (ADX). The final offer price was AED0.96 per share, the top end of the previously announced price range. The market capitalisation on listing will stand at AED2.16 billion. The initial public offering was […]

Adnoc’s shareholding in Fertiglobe will rise to 86.2% after the OCI stake purchase

Adnoc to complete $3.6bn Fertiglobe stake purchase today

State-run Abu Dhabi National Oil Company (Adnoc) is expected to close the acquisition of Amsterdam-based OCI Global’s 50 percent stake plus one share in Fertiglobe on Tuesday after receiving all required approvals. A block trade was initiated on the Abu Dhabi Securities Exchange (ADX) on October 11, which will settle today. After the stake buyout, […]