L'imad announce intention to acquire 100% shares of AD Ports Group
Abu Dhabi sovereign fund L'imad is making a bid to acquire 100 per cent shares of AD Ports Group which it already does not own as it looks to expand its ports and logistics portfolio. L'imad has announced the intention to make a voluntary conditional cash for the entire share capital of the AD Ports Group through its wholly owned subsidiary ADQ , the sovereign investment arm of the Abu Dhabi…
The Abu Dhabi sovereign wealth fund, L imad, has announced plans to acquire a 100 percent stake in AD Ports Group. This move is aimed at expanding the fund's existing portfolio of ports and logistics assets. L imad, through its subsidiary ADQ, already holds a 75.42 percent share in AD Ports Group. The bid price of Dh6.25 ($1.70) per share is 23 percent higher than the current trading price on the Abu Dhabi Securities Exchange.
The offer is also 25 percent and 31 percent above the one-month and three-month weighted average prices of Dh5.02 and Dh4.76, respectively. L imad's offer to existing investors is 95 percent higher than the initial public offering price of Dh3.20 per share, which was set before the company's listing on the ADX in February 2022. This acquisition presents AD Ports Group shareholders with an opportunity to realize immediate value.
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