Abu Dhabi, UAE: The Lulu Group International is planning to list on the Abu Dhabi Securities Exchange (ADX) in 2023, according to V. Nandakumar, Director of Marketing and Communications, at the Abu Dhabi-based group.
Since the start of the year, financial markets have been witnessing a surge in IPOs, he said, stressing that the group’s listing on the UAE financial markets is a major opportunity to contribute to the sustainable growth of the Emirati economy.
The recent period saw multiple listings on the UAE bourses, including Abu Dhabi Ports, the Dubai Electricity and Water Authority (DEWA), Borouge, TECOM Group, SALIK, Burjeel Holdings, ADC, Fertiglobe, ADNOC Drilling, Alpha Dhabi Holding, and Multiply.
A number of other firms are considering their IPOs on ADX and the Dubai Financial Market to build up resilience against international uncertainties.