Investcorp Capital, a division of Bahrain-based alternative investment firm Investcorp Group, is pressing ahead with its planned initial public offering (IPO).
The firm will list on the Abu Dhabi Securities Exchange (ADX) and is expected to offer 643 million ordinary shares, half of which will be newly issued, at a value of US$0.50 per share, equivalent to 29.34% of the company’s stock.
Investcorp Capital provides capital financing services for the alternative investment market, and the firm intends to use the proceeds from the IPO to further strengthen its capital financing business.
The listing will take place on November 17, subject to regulatory approval.
Investcorp Capital still plans to pay semi-annual dividends of around 8% for the year ending June 30, 2024.
The Investcorp group has roughly $50 billion in assets under management and, under the leadership of current executive chairman Mohammed Al Ardhi has seen its AuM grow by 500% over the last seven years.
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