Investment Holding Group, a limited liability company in Qatar, has revealed increase in authorized share capital, following Qatar’s pioneering reverse acquisition.
This announcement follows the decision of IHG’s Extraordinary General Assembly held on April 11th, 2022, approving the acquisition of Elegancia Group by IHG and the increment of the company’s authorized and paid-up share capital by 2,574,037,500 shares.
With the capital increase, the number of IHG shares has increased from 830,000,000 to 3,404,037,500. IHG has issued and allocated the increased shares to the owners of Elegancia, as a result of the acquisition process. This provides IHG with enormous commercial potential and expansion opportunities in key and lucrative sectors, thereby expanding economic growth, social development, and environmental management, aligned with Qatar’s Vision 2030.
This first-ever reverse acquisition supports Qatar’s economic diversification, in line with the country’s national development goals. As one of Qatar’s leading professional service companies, IHG’s maturing domestic and international exposure will positively impact stakeholder value to generate sustainable growth for the national economy.
Last week, IHG announced a strategic reorganization of its businesses into five sectors including Healthcare, Professional Services, Contracting, Industries, and Ventures. This reorganization will capitalize on Qatar’s ever-expanding market size and more closely align with the company’s priorities for future growth.
IHG will be announcing planned expansions involving developing and operating hospitals, new tourist destinations, construction contracting, specialized contracting (MEP), and supplier of building materials, safety equipment, tools, timber, security systems, firefighting systems, modern construction industries, and other businesses.