Investcorp Capital IPO: Firm announces intention to list and trade shares on ADX

Investcorp Capital IPO: Firm announces intention to list and trade shares on ADX

Image: WAM

Global asset management and capital financing services company, Investcorp Capital has announced its intention to proceed with an IPO of 643,000,000 ordinary shares with a nominal value of $0.50 (equivalent to Dhs1.84) each representing approximately 29.34 per cent of its issued share capital post issuance of the new shares and to admit its shares for listing and trading on the Abu Dhabi Securities Exchange (ADX).

The company plans to offer 321,500,000 new shares while 321,500,000 shares will be sold by selling shareholder, Investcorp.

The subscription will be open from November 2 to November 9.

Admission to listing on the ADX is anticipated to happen on November 17.

The company and the selling shareholder retain the right to amend the size of the offering and the size of each tranche at any time before the pricing of the offering, subject to the applicable laws of the UAE and the approval of the Securities and Commodities Authority (SCA), state news agency WAM reported.

The company is registered as a public company limited by shares incorporated in the Abu Dhabi Global Market (ADGM) and is subject to the ADGM Companies Regulations 2020 (as amended).

First tranche, second tranche details for Investcorp IPO

The first tranche offer period is