Today's Edition
A. SREENIVASA REDDY (ABU DHABI)
Lulu Retail Holdings, the region’s largest full-line retailer, has been selected for inclusion in the FTSE Global Equity Index Series (FTSE GEIS), a key global benchmark developed by FTSE Russell, a subsidiary of the London Stock Exchange Group.
The inclusion will take effect from June 23, 2025, subject to final confirmation by June 6, a statement from the company said.
The move comes after Lulu’s successful initial public offering (IPO) in Q4 2024, which attracted robust demand from local, regional, and international investors.
It was listed on the Abu Dhabi Securities Exchange (ADX) at Dh2.04, and the stock is now trading at around Dh1.35. Despite the fall in price, the scrip enjoys high liquidity in the market.
Lulu’s market cap stands at Dh13.94 billion, according to the latest ADX data.
Lulu will be included in several prominent indices under the FTSE GEIS umbrella, namely the FTSE Mid Cap, FTSE All-World, FTSE All-Cap, and FTSE Total-Cap indices, the statement said. These indices are widely tracked by institutional investors globally and serve as essential tools for benchmarking equity performance and allocating capital.
The FTSE Global Equity Index Series offers a comprehensive representation of global equity markets by covering companies across 49 developed and emerging markets. The indices are structured to include companies by market capitalisation tier—ranging from large-cap to micro-cap—and are reviewed quarterly to ensure they reflect current market conditions. Index constituents are determined based on factors such as market capitalisation, liquidity, and free float.
Inclusion in an FTSE GEIS index is often seen as a milestone for listed companies, as it enhances global visibility and can drive increased capital inflows from passive and active funds benchmarked to these indices.
Commenting on the announcement, Saifee Rupawala, CEO of Lulu Retail, said, "Our inclusion in the FTSE Global Equity Index Series is a landmark achievement and underscores the strength of our retail model, operational scale, and the trust investors have placed in our vision. It enhances our visibility on the global stage and opens new avenues for engagement with long-term international capital."
Founded in 1974, Lulu Retail operates 255 stores across all six GCC countries, including hypermarkets, express stores, and mini-markets. The company also has a growing digital presence through mobile and online platforms.
