Abu Dhabi: LuLu Group International, known for operating one of the largest hypermarket chains in the Middle East, has reportedly invited banks to present proposals for potential roles in an initial public offering (IPO) that aims to raise at least $1 billion, according to sources familiar with the situation.
The conglomerate is contemplating a dual listing in Riyadh and Abu Dhabi, the sources added, requesting anonymity due to the sensitive nature of the information.
