Investcorp Capital, a subsidiary of Bahrain’s Investcorp Group, is gearing up for an initial public offering (IPO) on the Abu Dhabi Securities Exchange, where it plans to divest 29.34% of its shares. The IPO will consist of the sale of 643 million ordinary shares, including 321.5 million newly issued shares, each with a nominal value of $0.50 (Dh1.84). Investcorp Capital is scheduled to debut on November 17, 2023, subject to favorable market conditions and regulatory approvals in the UAE. The company aims to employ the net proceeds from the offering to expand its capital financing services and boost investments in the capital deployment business, while also pursuing strategic growth opportunities and general corporate purposes.
Investcorp Capital specializes in allocating capital to funds managed by clients or directly into alternative investments, including private corporations, real estate assets, and collateralized loan obligations. The firm’s diverse investment portfolio spans private equity, real estate, credit, and general partner positions across North America, Europe, the Middle East, and Asia. Additionally, it generates fee-based income by charging underwriting and commitment fees to its clients. The offering will be divided into two tranches, with the first tranche’s subscription period running from November 2 to November 8, and the second tranche commencing on November 2 and concluding on November 9. There is a minimum application size of Dh50,000 in the first tranche and Dh5 million in the second. The indicative price range will be disclosed at the start of the subscription period. This IPO is part of a broader trend of increased listings in the GCC, with Abu Dhabi’s capital market showing notable strength in the global IPO landscape.