Bahrain's Investcorp to delist from London stock exchange

Bahrain-based investment firm Investcorp is planning to delist its shares from the London Stock Exchange, offering investors $4.76 per share.

The firm said it will buy up to 7.92 million global depositary receipts (GDRs), representing 9.9 per cent of its outstanding GDRs, according to a statement published on the Bahrain Stock Exchange (BSE) on 19 August.

The offer period will last until 1 October this year. It will maintain its listing on the BSE.

The firm, which manages assets and private equity funds, announced profits of $102.2m for the twelve-month period ending June 2010. Its client assets under management rose to $9.7bn from $8.8bn in the corresponding period last year.

Meanwhile, total placement and fund-raising activities raised $1.4bn, up from $1.1.bn. In private equity, the firm deployed $346m of equity in new and add-on acquisitions in the 2010 financial year.