Investcorp Capital Seeks Up to $403 Million in UAE Listing (3)

Investcorp Capital Plc and the Middle East’s biggest alternative asset manager, its parent, are looking to raise as much as 1.49 billion dirhams ($403 million) in an Abu Dhabi initial public offering.

The price range for the investment vehicle was set at 1.90 dirhams to 2.30 dirhams per share, according to a statement on Thursday. Investcorp Holdings is selling 321.5 million shares in Investcorp Capital, which is offering another 321.5 million new shares in the IPO. Together, that represents about a 29.3% stake.

The IPO had enough orders to fill the total size within an hour of opening books, and ...