IHC’s subsidiary Alpha Dhabi Holding to list on ADX with $2.72bln paid-in capital

Alpha Dhabi Holding plans to list its shares on June 27

  
An investor monitors a stock exchange information screen at the ADX Abu Dhabi Securities Exchange stock market Image used for illustrative purpose

An investor monitors a stock exchange information screen at the ADX Abu Dhabi Securities Exchange stock market Image used for illustrative purpose

REUTERS/Stringer .

ABU DHABI - International Holding Company (IHC) subsidiary, Alpha Dhabi Holding, one of the fast-growing investments holding companies in the Middle East, announces its intention to proceed with an initial public offering (IPO) and listing of its ordinary shares on the Abu Dhabi Securities Exchange (ADX) on Sunday 27th June with AED10 bn paid-in capital.

The offering is expected to comprise a sale of existing Shares to individuals and other investors in the UAE (as part of the UAE retail offering) and to qualified institutional and other investors (as part of the qualified investor offering).

Mohamed Thani Murshed Al Rumaithi, Chairman of Alpha Dhabi Holding, said, "We have made the journey to become a public company in a way that’s going have a positive reflection on our growth plan, and as a public company we will have a stronger capital structure to invest in additional verticals, expand commercially and accelerate growth both organically and through acquisitions".

Syed Basar Shueb, CEO and Managing Director of IHC, said: "We invested in Alpha Dhabi in early 2021 and we have used our sector experience to reorganise, integrate and transform Alpha Dhabi into a leading UAE holding company with special focus on construction and hospitality. The business is growing fast, highlighted by the 30% jump in first quarter revenue and gaining a listing on a major stock exchange will enhance its already strong platform and reputation. We are delighted to have supported its management team to deliver on its Abu Dhabi Stock Exchange IPO.

Incorporated in 2013, Alpha Dhabi operates across 5 main verticals: industries, healthcare, investments with partners, construction and hospitality. The Company’s investment portfolio, local and international, includes 25 subsidiaries and 40,000 employees active in different fields, including, but not limited to: i. Energy, engineering consultancy, operation and maintenance services.

ii. Operation of commercial, service, real estate, contracting, mining and industrial investment.

iii. Dredging and marine construction.

iv. Forest management, landscaping, animal feed and tourism.

v. Onsite and Digital healthcare management, occupational health solutions and health assessment.

© Copyright Emirates News Agency (WAM) 2021.


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