Manama – MENA Herald: Investcorp, a leading provider and manager of alternative investment products, today announced projected investment distributions of over $700 million to investors (including itself) in the first quarter of Investcorp’s Fiscal Year 2017 (FY17) following a series of successful exits over the period and during the Fiscal Year that ended on June 30, 2016 (FY16).
Mohammed Alardhi, the Firm’s Executive Chairman, said: “Investcorp continues to deliver exceptional performance despite the challenging conditions in the markets we operate in. The last few months have seen an exceptionally active period for the Firm led by a number of successful exits that enabled us to further strengthen our financial position and deliver on our commitments to shareholders and clients. This performance also was reflected in the significant increase in dividends on our Ordinary Shares approved by our shareholders at the Ordinary General Meeting of Shareholders held earlier today.
“As we mark the end of a strong first quarter in FY17, we remain focused on executing our growth strategy, supported by our shareholders and strategic partners. We look forward to another successful year for Investcorp, building on our strong foundation as a committed Bahraini firm.”
Investcorp’s recent exits include the sale of the premium crisps manufacturer Tyrrells, the sale of the global information services company CSIdentity, the initial public offering of L’azurde Company for Jewellery on the Saudi Stock Exchange, the sale of Polyconcept, the leading supplier in the promotional products industry, the initial public offering of the Internet security software provider Sophos on the London Stock Exchange, in addition to a number of successful exits in the real estate sector.