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The Abu Dhabi Investment Authority (Adia) just made a sale and an investment this week, as business looks to remain as usual for now.
On the investment front, Adia is backing Japanese digital payments platform PayPay’s IPO in the US, according to filings to the US Securities and Exchange Commission. Adia, along with Qatar Investment Authority’s Qatar Holdings and Visa International Service Association, intends to invest over USD 200 mn in the SoftBank subsidiary’s listing.
PayPay’s plan: PayPay is seeking a valuation of up to USD 13.4 bn in an upcoming offering on Nasdaq this month, under the ticker PAYP. It’ll offer up to 31.1 mn US depository shares, guiding on a price range of USD 17-20 apiece, the filing read.
IN CONTEXT- The listing could raise substantial capital for SoftBank, which is increasingly focusing on the AI sector, having committed USD 30 bn to OpenAI and being amongst the firms investing USD 500 bn in the Stargate project launched by US President Donald Trump. The Japanese bank is also active in the UAE’s AI scene, partnering alongside US heavyweights with Abu Dhabi’s AI giant G42 on the 5 GW US-UAE data center cluster in Abu Dhabi.
On the flip side, an Adia subsidiary joined several international investment players in selling 75 mn shares in US-based public healthcare giant Medline, according to filings to the US Securities and Exchange Commission. The subsidiary sold 5.1 mn shares, contributing to a sale by affiliates of Blackstone, Carlyle, and Hellman & Friedman that raised a total of USD 3.1 bn at USD 41 apiece, Bloomberg reports.
IN CONTEXT- The consortium moved to lock in gains following the healthcare firm’s 58% stock gain since its December USD 7.2 bn IPO, bypassing the standard six-month lock-up period following agreements with banks working on the debut.
