The AD Ports offer has gained another financial institution as ADQ strengthens its team for the tender process. International Securities LLC will join the existing managers supporting the transaction.
Abu Dhabi Developmental Holding Company, known as ADQ, appointed International Securities as a co-manager. The appointment covers ADQ’s voluntary conditional cash offer for the remaining AD Ports shares.
International Securities will work alongside Emirates NBD Capital and First Abu Dhabi Bank. Both institutions serve as joint lead managers for the transaction.
EFG Hermes UAE also serves as a co-lead manager. Meanwhile, Emirates NBD Bank and FAB will act as the joint lead receiving banks.
The appointment comes while shareholders continue considering ADQ’s proposal. The tender period began on August 18 and will remain open until September 15.
ADQ operates as a wholly owned subsidiary of L’IMAD, Abu Dhabi’s sovereign investment platform. L’IMAD currently owns 75.42 percent of AD Ports through ADQ.
The transaction targets the shares that L’IMAD does not currently own. Therefore, the proposal could give the investor full ownership of the listed ports company.
Shareholders will receive Dh6.25 in cash for each share under the offer. This price represents a significant premium over several recent market benchmarks.
The offer price stands 23 percent above the Dh5.10 closing price. AD Ports recorded that closing price before the offer announcement.
The proposed price also exceeds the company’s recent weighted average prices. It represents a 25 percent premium over the one-month volume weighted average price.
The three-month volume weighted average price stood at Dh4.76 per share. Consequently, the offer provides a 31 percent premium against that benchmark.
The transaction also offers a substantial premium to early investors. Investors who subscribed before the company’s 2022 listing paid Dh3.20 per share.
Therefore, the Dh6.25 offer represents a 95 percent premium over the original subscription price. This difference could make the proposal attractive to some long-term shareholders.
The tender process opened on August 18, 2026. It will close at 3pm on September 15 unless ADQ extends the period.
The transaction also involves several financial and legal advisers. Rothschild & Co Middle East serves as the financial adviser to L’IMAD.
Allen Overy Shearman Sterling provides legal advice for the transaction. Meanwhile, the expanded banking group will support the tender process.
International Securities now joins Emirates NBD Capital, FAB and EFG Hermes UAE. The group will help coordinate the offer as investors evaluate the proposal.
The move comes after AD Ports reported strong second-quarter financial results. The company’s net profit increased 88 percent to Dh836 million.
Revenue also recorded substantial growth during the quarter. AD Ports reported revenue of Dh7.08 billion, representing a 47 percent increase.
The strong results add further context to the ongoing ownership transaction. They also highlight the company’s recent financial momentum.
At the same time, the offer provides shareholders with a defined cash exit option. Investors can therefore compare the offer with their own expectations for future returns.
The proposed transaction could also change AD Ports’ ownership structure significantly. L’IMAD already controls more than three-quarters of the company’s shares.
If the offer succeeds, L’IMAD could acquire the remaining shares through ADQ. That outcome would increase its control over the ports and logistics group.
The transaction comes as AD Ports continues pursuing expansion and investment opportunities. The company’s recent performance has supported its broader growth strategy.
Meanwhile, shareholders will have several weeks to assess the cash proposal. They can consider the premium alongside the company’s financial performance and future prospects.
The AD Ports offer therefore represents an important development for Abu Dhabi’s listed market. The addition of International Securities further expands the financial team behind the transaction.
Overall, ADQ continues moving forward with its plan to acquire the remaining AD Ports shares. The tender process will remain open until September 15, unless the deadline changes.
