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October 24th (Reuters) – Investcorp Capital announced on Tuesday that it plans to sell 643 million ordinary shares in an initial public offering (IPO) with the aim of listing on the Abu Dhabi Stock Exchange.
Bahrain-based Investcorp will offer 643 million ordinary shares at a nominal price of $0.50 (1.84 UAE dirhams). 643 million shares represent approximately 29.34% of the stock. issued Investcorp says its share capital will decrease after the IPO.
Investcorp Capital and Investcorp SA have entered into a cornerstone investor agreement with IVC Strategic Investment Company, which announced it has committed approximately $250 million to the IPO.
Investcorp has hired Emirates NBD Capital PSC, First Abu Dhabi Bank PJSC and HSBC Bank Middle East Limited as joint global coordinators and joint bookrunners.
With $50 billion in assets under management (AUM), Investcorp It is best known for listing luxury brands such as Gucci and Tiffany.
Under the leadership of Mohammed Al Ardi, Investcorp’s current executive chairman, Investcorp has grown its assets under management over the past seven years by diversifying into sectors such as infrastructure, acquiring stakes in other general partners, and insurance. The amount was increased five times.
(Reporting by Nilutpal Timsina in Bengaluru; Editing by Christopher Cushing and Christian Schmollinger)
((Nilutpal.Timsina@thomsonreuters.com; +91 86382 04706;))
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