International Holding Co subsidiary Al Seer Marine lists on Abu Dhabi Exchange

Sixth IHC subsidiary to list in less than eight months

  
Investors look at stock exchange information at the Dubai Financial Market December 14, 2009. Image for illustrative purpose.

Investors look at stock exchange information at the Dubai Financial Market December 14, 2009. Image for illustrative purpose.

REUTERS/Mosab Omar

Abu Dhabi-based Al Seer Marine, a company fully-owned by the conglomerate International Holding Company (IHC), listed on Sunday under the ticker ASM on the Abu Dhabi Securities Exchange (ADX) Second Market.

Al Seer Marine, which builds and operates vessels and manages yachts, has total assets of 3.98 billion dirhams ($1 billion) as at the end of June 2021, and 1 billion dirhams in paid-in capital.

Riyadh Al-Kindi, the chairman of Al Seer Marine said: “Listing on the ADX Second Market marks a considerable milestone for the company (and)… will allow us to enhance our brand, deepen our transparency and corporate governance and bring on board new investors to be part of our exciting journey.”

Al Seer Marine is the sixth IHC Group company to list on the ADX, following the successful listings of Palm Sports, Easylease, Zee Stores, Emirates Stallion Group on the Second Market and AlphaDhabi on the primary market in less than 8 months.

(Writing by Brinda Darasha; editing by Daniel Luiz)

brinda.darasha@refinitiv.com

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© ZAWYA 2021

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