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(Bloomberg) -- Investcorp Capital Plc, an investment vehicle backed by the Middle East’s biggest alternative asset manager, ended its first day of trading flat after its $451 million initial public offering in a rare muted debut in the region.Most Read from BloombergAston Martin Owner Lawrence Stroll Sells F1 Team Stake at £1 Billion ValuationHamas Mastermind Who Tricked Israel Is Top Target in Gaza TunnelsBacklash Spreads Over Musk’s Endorsement of Antisemitic PostApple Plans...

The deal was priced at Dh2.30 apiece for 720 million shares

(Bloomberg) -- Investcorp Capital Plc and the Middle East’s biggest alternative asset manager, its parent, are looking to raise as much as 1.49 billion dirhams ($403 million) in an Abu Dhabi initial public offering.Most Read from BloombergImmigrants Are Leaving Canada at Faster Pace, Study ShowsIsrael Latest: Biden Urges ‘Pause’ So Hostages Can Leave GazaReal Estate Industry Takes Fresh Hit With Verdict on CommissionsFed Signals Yield Rise Reduces Need to Hike, But Door Stil...

The price range for the investment vehicle was set at 1.90 dirhams to 2.30 dirhams per share, according to a statement

Investcorp Capital will contain stakes in assets across private equity, real estate, credit and corporate investments.

Investcorp is also considering other venues for the listing

The Middle East is in the midst of a listings boom underpinned by high oil prices and governments’ efforts to sell stakes in assets to fund a transition away from fossil fuels. 

Investcorp Holdings, one of the largest asset managers in the Middle East, plans to invest as much as $1 billion in Saudi real estate over the next five

The eLydian Lion fund will be based in Abu Dhabi.

Michael Ryder joined Investcorp as a senior adviser in the infrastructure business.