Lulu Retail Holdings Plc is looking to raise as much as 5.27 billion dirhams ($1.43 billion) from its initial public offering, in what’s set to be the United Arab Emirates’ biggest listing of the year.

Lulu Retail Holdings, which runs one of the Middle East's biggest hypermarket chains, is seeking to raise as much as 5.27 billion dirhams ($1.43 billion) in what is set to be the UAE's biggest initial public offering so far this year.

UAE retail major Lulu Group is aiming to raise up to Dh5.27 billion ($1.43 billion) from its initial public offering in Abu Dhabi, which would make it the largest listing in the UAE so far this year,

Lulu Retail Holdings Plc had demand for all shares in its 5.27 billion dirhams ($1.43 billion) initial public offering an hour after books opened on the deal.