ADNH Catering has completed the bookbuild and public subscription process for its initial public offering (IPO) on the Abu Dhabi Securities Exchange (ADX).

ADNH Catering confirmed that the Final Offer Price for its ordinary shares has been set at Dh0.96 per Share, pricing at the top of the previously announced offer price range.

In a press release on Wednesday, the company said that 900 million shares were made available in the offering, representing 40 percent of ADNH Catering’s total issued share capital, raising gross proceeds of Dh864 million and implying a market capitalisation of the Group at a listing of Dh2.16 billion.

The IPO was multiple times oversubscribed across each of the first, second and third tranches, with substantial demand from both international and regional investors.

Admission of shares to trading on the ADX is expected to take place on Wednesday October 23, 2024.

Chief Executive Officer of ADNH Catering, Clive Cowley, said, “We are delighted by the strong investor demand we have received for our IPO, which reflects the confidence that investors have in ADNH Catering’s investment proposition, strategy and trajectory.

Citigroup Global Markets Limited and First Abu Dhabi Bank PJSC have been appointed as Joint Global Coordinators and Joint Bookrunners.

Emirates NBD Capital PSC and Abu Dhabi Commercial Bank PJSC have been appointed as Joint Bookrunners.

First Abu Dhabi Bank PJSC has been appointed as the Lead Receiving Bank. Abu Dhabi Commercial Bank PJSC, Abu Dhabi Islamic Bank PJSC, Emirates NBD Bank PJSC and Emirates Islamic Bank PJSC have been appointed as Receiving Banks.

WAM