International Holding Company (IHC), the diversified Abu Dhabi-based conglomerate, has revealed plans to invest $400 million into the Adani Enterprises Further Public Offering (FPO), the Indian multinational publicly listed holding company and a part of Adani Group, through its subsidiary Green Transmission Investment Holding RSC.
IHC’s first investment of the year comes as the company continues to scale and diversify its investments locally and internationally, focusing on Europe, Africa, Asia, and South America Markets in 2023.
This is the second investment deal International Holding Company has completed with India’s Adani Group after last year’s $2 billion investment in three green-focused companies of the Adani Group, including Adani Green Energy, Adani Transmission, and Adani Enterprises, which are all listed on the Bombay Stock Exchange and National Stock Exchange of India.
“Our interest in Adani Group is driven by our confidence and belief in the fundamentals of Adani Enterprises Ltd, we see a strong potential for growth from a long-term perspective and added value to our shareholders. The advantage of the FPO is the historical reference for the company’s earnings report, the performance of the stock market, the company’s management, business practices, and much data to bank on before making any investment decision.”
IHC continues to look ahead this year as its ambitious progression strategy gets well underway, with an expected further acquisition across four continents by the end of the year alone, focusing on a fast-growing economy, rapidly expanding equity markets, and top investment destination.
“We are watching the international market closely for new prospects, and we will continue exploring further opportunities outside our traditional market in 2023,” Mr. Shueb added.
IHC aims to increase its global acquisition by 70 percent in 2023, with the clean energy and food processing sectors being a key focus. The company is also considering a possible 2023 IPO of its subsidiary, International Energy Holding.
Related: Dubai Investment acquires 9% equity stake in UK-based Monument Bank