News

Investcorp Capital raises $450m in debut Abu Dhabi listing

Nov 20, 2023 By Nik Pratt
Bahrain-based alternative investment firm Investcorp Capital has raised US$450 million from its Abu Dhabi listing. The initial public offering (IPO) took place on the Abu Dhabi Exchange (ADX) and involved almost a third (32.85%) of total issued share capital. It gives the firm an implied market cap of $1.37 billion. According to Investcorp Capital, which will now be traded under the ticker ‘ICAP’ on the ADX, there was significant demand from institutional investors from the region and internationally. The company is aiming to pay dividends of $115 million for the financial year ending June 2024 with a dividend yield of 8.4% on a pro-rated basis and 13.5% on an annualised basis. © 2023 funds global mena

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