Investcorp to listing on ADX by means of IPO

MAZEN MAHDI/ AFP

Investcorp Capital, a supplier and supervisor of other funding merchandise, mentioned on Tuesday it intends to promote 29.34 per cent of its shares by means of an preliminary public providing (IPO).

The 643 million unusual shares will likely be bought at a nominal worth of $0.50 (AED 1.84) comprised of 321.5 million new shares and 321.5 million present shares.

The firm is aiming to listing on the Abu Dhabi Securities Exchange (ADX) on November 17, after regulatory approval, following a primary tranche of gross sales anticipated to start out on November 2 and shut on November 8. A second tranche is predicted to run from November 2-9.

Investcorp Capital mentioned it intends to make use of the proceeds to additional develop its capital financing providers enterprise and in addition improve investments in capital deployment by round $100 million.

It additionally intends to fund strategic progress alternatives and in addition finance basic company functions.

Today we’re proud to announce the intention to drift #Investcorp Capital in Abu Dhabi on the #ADX. It will present skilled traders with direct entry to a world of worldwide alternatives. Find out extra: https://t.co/6j9XcJCakN.

— محمد محفوظ العارضي (@MMAlardhi) October 24, 2023