The company confirmed, in a press statement, that the final offering price for its ordinary shares was set at 0.96 dirhams per share, which is the upper limit of the previously announced price range.
The total proceeds from the offering amounted to approximately 864 million dirhams ($235 million), which implies that the market value of the group upon listing will reach 2.16 billion dirhams ($588 million).
The IPO was oversubscribed several times, in both the first, second and third tranches, with significant demand from international and regional investors.
It is expected that the listing will be accepted Abu Dhabi Securities Market On Wednesday, October 23, subject to market conditions and obtaining the relevant regulatory approvals in the country.
Clive Colley, CEO of ADNH Catering, said: “We are pleased with the strong demand we have seen from investors for our initial public offering, which reflects investors’ confidence in ADNH Catering’s investment proposition, our strategy and our path.”
Citigroup Global Markets Limited was appointedFirst Abu Dhabi Bankas global coordinators and joint records managers.
Emirates NBD Capital and Abu Dhabi Commercial Bank were appointed as joint bookrunners for the offering.
First Abu Dhabi Bank was appointed as the lead receiving bank, Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank andEmirates NBD Bank And Emirates Islamic Bank, as banks receiving the subscription.
