Investcorp Ends Debut Flat After $451 Million Abu Dhabi IPO
- Shares pare all of their initial gains to close at IPO price
- IPOs in the Gulf have held up well despite volatile markets
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Investcorp Capital Plc, an investment vehicle backed by the Middle East’s biggest alternative asset manager, ended its first day of trading flat after its $451 million initial public offering in a rare muted debut in the region.
Shares in the company closed at 2.30 dirhams in Abu Dhabi on Friday, the same as the offering price. They had earlier climbed to as much as 2.40 dirhams before falling as much as 4.4% from the IPO price.