Investcorp Plans to List Portfolio Company in Gulf by 2024, Says Senior Executive
Investcorp, the alternative investment company with approximately $50 billion in assets under management, is set to list at least one of its portfolio companies in the Gulf region by 2024, according to a senior executive.
Hazem Ben-Gacem, co-CEO of Investcorp and vice chairman of Investcorp Capital’s board, expressed optimism about completing this listing within the next six to 12 months.
Investcorp, headquartered in Bahrain, gained recognition for taking luxury brands public and made headlines last year when it listed Investcorp Capital on the Abu Dhabi exchange.
The company’s first-half earnings report, which covered the six months ending in December, revealed that Investcorp Capital declared an interim dividend yield of 9.6% on an annualized basis, based on a trading price of 2.09 dirhams per share.
While the first-half net profit fell 17% year-on-year to $34 million, comprehensive income remained steady at $34 million, in line with the previous year’s figures. The revenue from Investcorp Capital’s capital financing business witnessed an impressive increase of 47% during this period.
Ben-Gacem also hinted at three significant announcements expected from Investcorp in the coming weeks. These include a private equity investment in the Gulf Cooperation Council countries, an infrastructure investment, and an acquisition in Indonesia, likely to be confirmed in March.
Investcorp recently expanded into the infrastructure asset class, and in December, it acquired a 50% stake in the $4.8 billion infrastructure business of Corsair Capital, a US firm.
Mohammed Bin Mahfoodh Alardhi, executive chairman of Investcorp and chairman of Investcorp Capital, emphasized the potential of the infrastructure sector, particularly in light of the COVID-19 pandemic’s impact.
With Investcorp actively exploring opportunities in various investment sectors, the company is positioning itself to capitalize on emerging trends and provide its investors with attractive returns.
Analyst comment
Positive News:
Investcorp plans to list a portfolio company in the Gulf region by 2024. The company has expressed optimism about completing this listing within the next six to 12 months. The first-half earnings report showed steady comprehensive income and a significant increase in revenue from the capital financing business. Investcorp also hinted at three significant announcements expected in the coming weeks, including a private equity investment, an infrastructure investment, and an acquisition in Indonesia.
Short Analysis:
The market is likely to respond positively to Investcorp’s plans to list a portfolio company in the Gulf region, as well as the company’s steady income and increased revenue. The upcoming announcements of investment opportunities in various sectors also indicate that Investcorp is well-positioned to provide attractive returns to its investors.
