ABU DHABI, 24th October, 2023 (WAM) - Investcorp Capital plc has announced its intention to proceed with an IPO of 643,000,000 ordinary shares with a nominal value of USD 0.50 (equivalent to AED 1.84) each representing approximately 29.34% of its issued share capital post issuance of the new shares and to admit its shares for listing and trading on the Abu Dhabi Securities Exchange (ADX).

The company plans to offer 321,500,000 new shares while 321,500,000 shares will be sold by selling shareholder, Investcorp S.A. The subscription will be open from November 2 to November 9, 2023. Listing on the ADX is set for 17 November.

The company and the selling shareholder retain the right to amend the size of the offering and the size of each tranche at any time before the pricing of the offering, subject to the applicable laws of the UAE and the approval of the Securities and Commodities Authority (SCA).

The company is registered as a public company limited by shares incorporated in the Abu Dhabi Global Market (ADGM) and is subject to the ADGM Companies Regulations 2020 (as amended).

The first tranche offer period is expected to start on 2nd November 2023 and close on 8th November 2023, and the second tranche offer period is expected to begin on 2nd November 2023 and close on 9th November 2023.

Commenting on the launch of the IPO process, Mohammed Alardhi, Executive Chairman of Investcorp Group, a global asset management and capital financing services company, said, "We are very pleased to announce the intention to float Investcorp Capital in Abu Dhabi, one of the largest stock exchanges in the Arab world. Investcorp Capital is an innovative investment vehicle founded by Investcorp, which will enable investors to access a wide range of asset classes in the alternative investment space.

"With the support of our four decades of alternative asset management expertise that have allowed Investcorp to grow to approximately $50bn AUM (including assets managed by third parties) and our global presence, Investcorp Capital is well-positioned to provide a unique investment opportunity and attractive risk-adjusted returns."

It is intended that the offering will consist of an offering of 5 percent of the Offer Shares, allocated on a pro-rata basis and open to Professional Investors (as defined in the SCA Board of Directors' Chairman Decision No.13/R.M of 2021 (Professional Investors); and an offering of 95 percent of the Offer Shares, allocated on a discretionary basis and open to Professional Investors (Second Tranche and together with the First Tranche, the Tranches).

The indicative price range per offer share will be determined in due course and published on the opening date of the subscription period and will be contained in the International Offering Memorandum. The final offer price per Offer Share (the Offer Price) will be determined through, and following, a bookbuilding process carried out as part of the Second Tranche offering.