Dh6.25-a-share offer opens on August 18 and runs until September 15.
Dubai: L’IMAD, an Abu Dhabi government sovereign investor, has launched a voluntary tender offer through its wholly owned subsidiary, Abu Dhabi Developmental Holding Company PJSC (ADQ), to acquire up to 100 per cent of the remaining shares in AD Ports.
The tender offer opened on August 18 and is scheduled to close at 3pm on September 15, 2026, unless the offer period is extended.
Through ADQ, L’IMAD already holds a 75.42 per cent stake in AD Ports and is offering Dh6.25 per share to acquire the remaining shares it does not currently own.
Offer Follows August 17 Announcement
The tender offer comes a day after L’IMAD announced its intention to make a voluntary, conditional cash offer for the remaining shares in AD Ports.
At the time of the August 17 announcement, the Dh6.25-a-share offer represented a 23 per cent premium to AD Ports’ last closing price, as well as premiums of 25 per cent to the one-month volume-weighted average price and 31 per cent to the three-month volume-weighted average price.
Investors who bought shares during AD Ports’ IPO would receive a 95 per cent cash return on their investment at the Dh6.25-a-share offer price, according to the announcement.
AD Ports Receives Formal Offer Document
AD Ports said it received the formal offer document from ADQ on August 18, outlining the terms and details of the proposed transaction.
The company’s Board of Directors is scheduled to meet on August 21 to review the offer and discuss related matters. Further announcements are expected, including the publication of an offeree circular in line with the applicable acquisition and merger rules.
