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Three subsidiaries of the International Holding Company (IHC) will be listed on Abu Dhabi Securities Exchange’s (ADX) secondary market commencing late December 2020.
Sports education programme provider Palms Sport, fresh consumables retailer Zee Stores and motorcycle rental company Easy Lease will list on ADX’s secondary market on December 21, 23 and 27 respectively.
Syed Basar Shueb, CEO and Managing Director of IHC, said: “IHC has developed into a diversified holding company with global interests. However,
many of our fastest growing companies are homegrown in the UAE and are benefitting from shifting consumer and investment trends in the country.
Palms Sports, Zee Stores and Easy Lease are well-established firms with a consistent track record of business expansion in recent years.
"By listing on the ADX’ Second Market, these ambitious companies are offering investors an exceptional opportunity to participate directly in the early to mid-stage growth phase of their corporate development.”
Listed on ADX since 2005, IHC has expanded its operations to include real estate, healthcare, food and agriculture.
In the second half of this year, IHC and its subsidiaries have announced several new investments. These include Falcon CI IV LP, a fund that owns a stake in SpaceX, Elon Musk’s aerospace company; Oxford Nanopore, a high-tech UK SME with an innovative COVID-19 testing product; a partnership with DAL Group for a significant agricultural development in Sudan; and Multiply’s acquisition of a stake in New York data-driven marketing firm YieldMo.
(Writing by Seban Scaria ; editing by Daniel Luiz)
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