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

Offer at Dh6.25 a share opens August 18 and runs until September 15

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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.

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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.

Nivetha Dayanand is Assistant Business Editor at Gulf News, covering aviation, financial markets and commodities. A business and financial journalist with a strong interest in multimedia storytelling, she regularly takes complex financial and economic subjects beyond the written word, producing explainer videos that make them easier for a wider audience to understand. Nivetha has interviewed senior policymakers, business leaders and global financial figures both on and off camera. Her past guests include UAE Minister of Economy and Tourism Abdulla bin Touq Al Marri, Khaled bin Alwaleed Al Saud, a member of the House of Saud and the founder and CEO of KBW Ventures, Jihad Azour, Director of the Middle East and Central Asia Department at the International Monetary Fund and Indian ministers Hardeep Singh Puri and N. Chandrababu Naidu. She has also hosted and moderated panels, conferences and awards shows, bringing her newsroom experience to live conversations on business, finance and the economy. An Erasmus Mundus journalism alum, Nivetha is drawn to stories that affect people directly and to reporting that gives a platform to voices that might otherwise go unheard. She was among the first journalists to speak to Petrofac employees in the UAE about unpaid salaries, broke the news of the planned demolition of Dubai’s well-known “Toyota Building”, and helped set the record straight on widely circulated claims that a giant replica of the Moon was coming to Dubai. More recently, her exclusive interview with EDGE Group CEO Hamad Al Marar revealed how the UAE-based defence group deployed its systems along the country’s shore border and established a geofence around the UAE within 48 hours of the February 28 escalation. Prior to joining Gulf News, Nivetha worked at ITP Media, where she helped launch Finance Middle East, a new publication covering the region’s financial sector. Her role spanned reporting and editing, video production, interviews and events. Across print, digital, and video, she focuses on finding the people behind business stories and explaining why those stories matter to the audience reading or watching them.

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