L'IMAD launches tender offer to acquire remaining AD Ports shares

Dubai: L'IMAD, a sovereign investor of the Government of Abu Dhabi, has launched a voluntary tender offer through its wholly owned subsidiary Abu Dhabi Developmental Holding Company PJSC, or ADQ, to acquire up to 100% of the remaining shares in AD Ports.

The offer opened on August 18 and will close at 3 pm on September 15, 2026, unless the offer period is extended.

L'IMAD, through ADQ, already owns 75.42% of AD Ports and is offering Dh6.25 per share for the shares it does not currently own.

Offer follows August 17 announcement

The launch follows L'IMAD's announcement on August 17 of its intention to make a voluntary conditional cash offer for the remaining AD Ports shares.

At the time and date of that announcement, the Dh6.25 offer price represented a 23% premium to the last closing price, a 25% premium to the one-month volume-weighted average price and a 31% premium to the three-month volume-weighted average price.

Investors who participated in AD Ports' IPO would receive a 95% cash return at the offer price, according to the announcement.

AD Ports receives offer document

AD Ports said it received the formal offer document from ADQ on August 18, setting out the terms and further details of the offer.

The company's Board of Directors will convene on August 21 to review the offer, among other matters, with further announcements to follow, including publication of the offeree circular in accordance with the applicable acquisition and merger rules.