Investcorp Capital Plc, backed by the Middle East’s major alternative asset manager, is embarking on an ambitious journey by initiating an initial public offering (IPO) in Abu Dhabi. The company aims to raise up to $403 million (1.49 billion dirhams) through this IPO, offering 321.5 million shares at a price range of 1.90 dirhams to 2.30 dirhams per share. Investcorp Holdings is divesting 321.5 million shares, amounting to a 29.3% stake in Investcorp Capital. Notably, IVC Strategic Investment Co. has been secured as a cornerstone investor, committing to buy approximately $250 million of the IPO. These developments unfold against the backdrop of heightened geopolitical tensions in the Middle East, with the ongoing conflict between Israel and Hamas impacting investor sentiment. Despite the challenges, the IPO is proceeding, divided into two tranches for professional investors, with the first tranche closing on November 8 and the second on November 9. The company plans to price the shares on November 10, with the listing in Abu Dhabi anticipated for November 17.
Investcorp Capital specializes in investments across various sectors, including private equity, real estate, credit, and general partner positions in North America, Europe, the Middle East, and Asia. The proceeds from the IPO will be allocated to expand its capital financing services business line, increase investments in capital deployment, and fund strategic growth opportunities. This IPO venture occurs at a time when the Middle East faces geopolitical challenges due to ongoing conflicts. Despite the geopolitical concerns, IPOs in the region have demonstrated resilience and stability. Investcorp Capital’s successful IPO in Abu Dhabi is set to play a pivotal role in its future growth and development as a prominent player in the investment landscape.