Spinneys’ Dubai IPO Set to Price at Top, Raising $375 Million

High-end supermarket chain Spinneys’ Dubai initial public offering is expected to price at the top of the range and raise 1.38 billion dirhams ($375 million), showing strong demand for a rare private sector listing in the United Arab Emirates.

The share sale is expected to price at 1.53 dirhams apiece and books are significantly oversubscribed at that level, according to terms of the deal seen by Bloomberg. The final price is set to be announced on May 1, with the stock expected to start trading a week after.

Al Seer Group LLC, the family behind Spinneys 1961 Holding plc, ...