Abu Dhabi’s International Holding Company to list three subsidiaries on ADX Second Market
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Abu Dhabi’s International Holding Company to list three subsidiaries on ADX Second Market

Abu Dhabi’s International Holding Company to list three subsidiaries on ADX Second Market

They will be listed on the exchange’s Second Market in Q2 2021

Abu Dhabi IHC

Three subsidiaries of Abu Dhabi Securities Exchange (ADX)-listed International Holding Company (IHC) will be listed on the exchange’s Second Market in Q2 2021.

The three subsidiaries are: real estate company Emirates Stallion Group, Al Seer Marine and a third yet unnamed company.

Emirates Stallion Group (ESG) is one of IHC’s subsidiaries and has a diversified portfolio of businesses across engineering and construction, development and management of real estate.

Since its inception in 2006, ESG has grown to become the region’s only all-encompassing real estate partner. It is home to 5 fully owned subsidiaries, 90+ operational sites, 12 marketplace presence and 4 associates and joint ventures. The subsidiaries include Century Real Estate, Royal Development Company, Abu Dhabi Land General Contracting, Gulf Dunes Landscaping and Agricultural services and RAPM Architect Project Management. The company has assets of Dhs394m as of the end of 2020 and over 1,000 employees, reported state-run news agency WAM.

Al Seer Marine meanwhile is an organisation with an all-encompassing portfolio of products and services. The company engages in multiple marine sectors such as high-tech boatbuilding, unmanned systems development and manufacturing, Al Seer Marine Training Institute (ASMTI) for product training, maintenance and support services, supply logistics, 24×7 yacht management and project management. Al Seer Marine was founded in 2002 and has assets of Dhs717.8m as at the end of 2020.

“IHC has continued to grow becoming the second-biggest company by value on the Abu Dhabi Securities exchange. Emirates Stallion Group and Al Seer Marine are ambitious companies that have continued to expand in recent years. Listing on ADX’ Second Market, will offer investors an outstanding opportunity to participate in these well-established companies’ success journey,” said Syed Basar Shueb, CEO and managing director of IHC.

These listings will follow the three successful listings that IHC completed in 2020 of Palm Sports, Easylease and Zee Stores on ADX’s second market.

Over the last six months, IHC and its subsidiaries announced the pre-launch of the UAE’s first virtual wellness and prevention platform HealthyU, investments in UK-based DNA sequencing firm Oxford Nanopore Technologies, Quantlase Lab and Tamouh Healthcare, which recently developed the concept of Containerized Aid for Respiratory Emergencies (CARE), turning modular containers into fully equipped medical field hospitals such as – Sheikh Mohammed Bin Zayed Field Hospital – which was completed in early March near Darfur, Sudan.

IHC and its subsidiaries have also previously announced several new investments including a stake in SpaceX, a partnership with DAL Group for agricultural development in Sudan, and Multiply’s acquisition of a stake in New York data-driven marketing firm YieldMo.

In March, IHC reported a net profit of Dhs3bn for 2020, a six-fold, year-on-year increase. It also reported annual revenues of Dhs7bn, compared to Dhs1.26bn in 2019.

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