Top Middle East Grocery Chain LuLu Seeks Pitches for $1 Billion IPO

LuLu Group International, which operates one of the Middle East’s largest hypermarket chains, has invited banks to pitch for roles on a potential initial public offering that could raise at least $1 billion, people familiar with the matter said.

The conglomerate is considering plans for a dual listing in Riyadh and Abu Dhabi, the people said, asking not to be identified discussing confidential information.