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Abu Dhabi National Hotels sells stake in catering arm via IPO

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Published Date

Nov 1 2024

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A&O Shearman advised a group of financial institutions on the initial public offering and listing of Abu Dhabi National Hotels Catering operation on the Abu Dhabi Securities Exchange. The IPO comprised an offering of up to 40% of the share capital of ADNH Catering by way of a secondary sell down by its shareholder Abu Dhabi National Hotels raising approximately USD235 million, with ADNH Catering having a market capitalization at listing of approximately USD588m.

ADNH Catering is a leading food and support services provider in the UAE operating across five sectors; healthcare, business and industry, defense, correctional and education.

“We had a very tight timescale to deliver this work for the clients. We were able to meet their requirements by harnessing a cross-border team made up of people in the U.K. and UAE. This demonstrates the strength we bring to equity capital markets transactions in the region.”

Ibrahim Mubaydeen

Partner

The A&O Shearman team was led by Ibrahim Mubaydeen, Adam Wells, global co-head of U.S. capital markets & global ECM, and counsel Harsha Kumar. They were supported by a cross-border team including Maggie Casteel senior associate and Rose Whitlock associate, London and associates Sammy Lockhart, and James Clark in the UAE.

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