Investcorp Capital, a provider and manager of alternative investment products, said on Tuesday it intends to sell 29.34 per cent of its shares through an initial public offering (IPO).
The 643 million ordinary shares will be sold at a nominal value of $0.50 (AED 1.84) comprised of 321.5 million new shares and 321.5 million existing shares.
The company is aiming to list on the Abu Dhabi Securities Exchange (ADX) on November 17, after regulatory approval, following a first tranche of sales expected to start on November 2 and close on November 8. A second tranche is expected to run from November 2-9.
Investcorp Capital said it intends to use the proceeds to further develop its capital financing services business and also increase investments in capital deployment by around $100 million.
It also intends to fund strategic growth opportunities and also finance general corporate purposes.
Today we are proud to announce the intention to float #Investcorp Capital in Abu Dhabi on the #ADX. It will provide professional investors with direct access to a world of global opportunities. Find out more: https://t.co/6j9XcJCakN.
— محمد محفوظ العارضي (@MMAlardhi) October 24, 2023
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