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Investcorp Capital Plc, an Abu Dhabi Global Market-based alternative investor, is set to raise as much as 1.49 billion dirhams ($403 million) in an IPO after it set the price range at AED 1.90 to AED 2.30 per share.
The final offer price is expected to be announced on November 10, financial company in a statement on Thursday.
The company is offering 643 million ordinary shares, representing a 29.3% stake, followed by a listing on the Abu Dhabi Securities Exchange (ADX).
The subscription will be open from November 2 to November 9, 2023. Listing on the ADX is set for 17 November.
IVC Strategic Investment Company is a cornerstone investor and has committed to acquire approximately $250 million to the IPO.
Investcorp Capital invests in private equity, real estate, credit and general partner positions in North America, Europe, the Middle East and Asia. The company, which has approximately $50 billion in assets under management, intends to use the proceeds of the IPO to increase its deployed capital, and fund strategic growth opportunities.
(Writing by Brinda Darasha; editing by Seban Scaria)
