Khalifa Port in Abu Dhabi is part of the rapidly growing global portfolio of AD Ports Group. Photo: AD Ports GroupShow caption: Khalifa Port in Abu Dhabi is part of the rapidly growing glo…Abu Dhabi sovereign fund aims to acquire 100% of AD Ports' shares through its ADQ subsidiary
AD Ports Group has appointed HSBC Bank Middle East as its financial adviser to oversee L'imad's planned takeover bid.
Abu Dhabi sovereign fund L'imad, through wholly owned subsidiary ADQ, already holds 75.42 per cent of AD Ports Group's shares.
L'imad's offer of $1.70 per share represents a 23 per cent premium over the closing price prior to the offer date.
The offer is 95 per cent higher than the $0.87 per share IPO subscription price ahead of AD Ports Group's 2022 ADX listing.
