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Abu Dhabi conglomerate International Holding Company (IHC) is looking to list a 100 billion UAE dirhams ($27 billion) holding firm by 2025.
Launched earlier this year, 2PointZero will go to the market “sometime next year,” Syed Basar Shueb, CEO of IHC told Bloomberg in an interview.
In the same news report, Shueb added IHC also has plans to list International Technology Holding (ITH) and Sirius International Holding, focusing on information technology and green technology, respectively.
ITH’s initial public offering (IPO) is slated for 2024, Shueb told Bloomberg, while Sirius is likely to list in 2025.
He further said, the move was part of a broader strategy to consolidate and enhance the value of assets spanning various sectors, including financial services, and mining, while adding that IHC would not be pursuing new sectors in 2024.
“The focus is more toward the internal business growth. Whatever sectors we are in, we will grow,” he told Bloomberg.
In January, IHC, which is listed on the Abu Dhabi Securities Exchange (ADX), announced the formation of 2PointZero, which consolidated existing and newly created firms, including alternative asset manager Lunate, which launched a $30 billion climate fund in December dubbed ALTÉRRA at COP28, in collaboration with global asset managers BlackRock, Brookfield and TPG.
(Writing by Bindu Rai, editing by Daniel Luiz)
