Investcorp Prices $451 Million Abu Dhabi IPO at Top of Range
- Investcorp Capital prices shares at 2.30 dirhams each
- IPO was upsized by 12% due to strong demand from investors
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Investcorp Capital Plc’s Abu Dhabi initial public offering raised 1.66 billion dirhams ($451 million) after the deal priced at the top of the range and was upsized by 12%.
The investment vehicle backed by Investcorp Holdings, the Middle East’s biggest alternative asset manager, priced 720 million shares at 2.30 dirhams apiece, according to a statement on Friday. The pricing values Investcorp Capital at 5 billion dirhams and implies a dividend yield of 8.4% for the year ending next June.