The Abu Dhabi-based investment firm L’imad is poised to raise its ownership in AD Ports Group to 98.5 percent. This follows the successful completion of a voluntary tender offer initiated on August 18, through which the firm sought to acquire outstanding shares at a price of Dh6.25 per unit. According to a regulatory filing with the Abu Dhabi Securities Exchange, L’imad, operating via its subsidiary ADQ, secured acceptances for over 23.08 percent of the company's share capital by the September 15 deadline. The firm previously held a 75.42 percent stake in the port operator. The transaction is expected to be finalized by October 9, at which point the settlement process and share registration for participating investors will be completed.
Source : The National
Photo : The National
