Abu Dhabi’s IHC to list three subsidiaries on ADX Second Market

By Shilpa Annie Joseph, Desk Reporter
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Abu Dhabi-based International Holding Company’s (IHC) three subsidiaries will be listed on the exchange’s Second Market beginning in the second quarter of 2021.

The listing will provide an appealing opportunity for current and new investors to participate in the companies’ growth, as well as benefiting IHC as a result of increased profile-raising and visibility from these companies.

Emirates Stallion Group (ESG) is an IHC subsidiary with a diverse portfolio of businesses including engineering and construction, real estate development and management, and public realm development and management, as well as associated services. Since its launch in 2006, ESG has rapidly expanded to become the region’s only all-encompassing real estate partner.

Al Seer Marine, a leading marine organization in the Arabian maritime region with a comprehensive portfolio of products and services, is one of the three companies on the list. Founded in 2002, the company has assets of $195 million (AED 717.8 million) as of the end of 2020.

Along with Emirates Stallion Group (ESG) and the Al Seer Marine, the company is also going to list another subsidiary, and it will disclose the name in the coming weeks.

Syed Basar Shueb

“IHC has continued to grow becoming the second-biggest company by value on the Abu Dhabi Securities exchange. We will continue to enrich our diversified portfolio with strong companies that are in line with our growth strategy and goals. We believe in the local product and many of our fastest-growing companies are homegrown in the UAE. Emirates Stallion Group and Al Seer Marine are ambitious companies that have continued to expand in recent years. Listing on ADX’ Second Market, will offer investors an outstanding opportunity to participate in these well-established companies’ success journey.”

These listings will follow the three successful listings that IHC completed in 2020 of Palm Sports, Easylease, and Zee Stores on ADX’s second market.

Furthermore, IHC and its subsidiaries have also previously announced several new investments. These include a stake in Elon Musk’s aerospace company SpaceX, a partnership with DAL Group for significant agricultural development in Sudan, and Multiply’s acquisition of a stake in YieldMo, a New York data-driven marketing firm.

Related: UAE’s IHC acquires 40% stake in Response Plus Medical Services