Oct 24 (Reuters) - Investcorp Capital on Tuesday said it plans to offer 643 million ordinary shares in an initial public offering (IPO) with the aim of listing on the Abu Dhabi Securities Exchange.
Bahrain-based Investcorp will offer 643 million ordinary shares with a nominal value of $0.50 each (1.84 United Arab Emirates dirhams). The 643 million shares represent about 29.34% of issued share capital after the IPO, Investcorp said.
Investcorp Capital and Investcorp S.A. have entered into a cornerstone investor agreement with the IVC Strategic Investment Company, and the firm has committed about $250 million to the IPO, it said.
Investcorp has hired Emirates NBD Capital PSC, First Abu Dhabi Bank PJSC, and HSBC Bank Middle East Limited as joint global coordinators and joint bookrunners.
With $50 billion of assets under management (AUM), Investcorp is best known for listing luxury goods brands, such as Gucci and Tiffany & Co.
Under the leadership of Mohammed Al Ardhi, Investcorp's current executive chairman, Investcorp has grown its AUM fivefold over the last seven years by diversifying into sectors including infrastructure, acquiring stakes in other general partners, and insurance.
(Reporting by Nilutpal Timsina in Bengaluru; Editing by Christopher Cushing and Christian Schmollinger)
