Home UAE Abu Dhabi Abu Dhabi’s IHC mulls listing holding firm 2PointZero, says CEO The newly created holding firm with assets worth $27bn (Dhs100bn) is set to go to the market “sometime next year” by Kudakwashe Muzoriwa March 22, 2024 Image courtesy: Supplied Abu Dhabi’s International Holding Company (IHC) is considering listing 2PointZero, a newly founded holding firm with assets worth $27bn (Dhs100bn) by next year. Syed Basar Shueb, the CEO of IHC said, in an interview with Bloomberg, that 2PointZero will be going to the market “sometime next year”. IHC also plans to list International Technology Holding (ITH), a combination of all information technology firms overseen by the conglomerate, and Sirius International Holding which is focused on green technology, digital transformation, and health tech. ITH’s initial public offering (IPO) is slated for this year while Sirius will likely list in 2025, Shueb said in the interview. The CEO said the company will 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 said. The conglomerate plans to develop its mining and energy sector, asset management, micro-finance and reinsurance. It’s also pursuing investments in artificial intelligence. A unit of IHC, International Resources Holding, recently acquired Mopani Copper Mines in Zambia. IHC sets up 2PointZero The Abu Dhabi conglomerate set up 2PointZero earlier in January, a holding firm with assets across sectors ranging from financial services to mining. The investment vehicle’s sprawling portfolio includes Abu Dhabi’s newest fund Lunate, International Resources Holding, private investment firm Chimera, Egypt’s Beltone Financial, crypto mining firm Citadel Technologies and Middle East-focused Sagasse Investments. IHC plans to place these companies into a “separate ecosystem so that when we list the business, it’ll get the significant capital injection and that will help the growth of these businesses,” Shueb said, while noting that its valuation will be “north of Dhs100bn. 2PointZero is chaired by Sheikh Zayed bin Hamdan bin Zayed Al Nahyan and the holding firm named UAE’s former Minister of Environment and Climate Change, Mariam bint Mohammed Saeed Hareb Almheiri, as CEO. Read: Abu Dhabi’s IHC mulls listing holding firm 2PointZero