Dubai: Abu Dhabi’s secondary market will remain busy, with International Holding Co. – the stock that’s still zooming on ADX charts – to list another two subsidiaries.
“We believe in local product and many of our fastest growing companies are homegrown in the UAE,” said Syed Basar Shueb, CEO and Managing Director of IHC. “Emirates Stallion Group and Al Seer Marine are ambitious companies that have continued to expand in recent years. Listing on ADX’s Second Market, will offer investors an outstanding opportunity to participate in these well-established companies’ success journey.”
The IHC stock on its own has put in triple-digit growth rates over the last year, and the streak continues to this day, with upbeat first quarter numbers.
ABU DHABI: Three subsidiaries of International Holding Company (IHC) will be listed on Abu Dhabi Securities Exchange’s (ADX) Second Market in the second quarter of 2021, the company said in a filing on Thursday. Real estate company Emirates Stallion Group (ESG), Al Seer Marine Supplies & Equipment Co. and an as yet unnamed third company will be listed, IHC said. IHC, one of Abu Dhabi’s largest conglomerates is chaired by HH Sheikh Tahnoon Bin Zayed Al Nahyan, national security adviser to the UAE. Last year it listed Palm Sports, Easylease and Zee Stores on ADX’s Second Market. ESG, founded in 2006, owns a diversified portfolio of businesses across engineering and construction, real estate investment, development and management. It had assets of 394 million dirhams ($107 million) as of the end of 2020 and over 1,000 employees, according to IHC.
IHC to list three subsidiaries on ADX Second Market in Q2
07 May 2021 Investors monitor screens, displaying stock information, at the Abu Dhabi Securities Exchange. File/Reuters Three subsidiaries of Abu Dhabi Securities Exchange (ADX)-listed International Holding Company (IHC) will be listed on the exchange’s Second Market commencing in second quarter of 2021.
The listing will create an attractive opportunity for current and new investors to take part in the growth of the companies, as well as benefitting IHC as a result of increased profile raising and higher visibility from these companies.
Emirates Stallion Group is one of IHC’s subsidiaries and has a diversified portfolio of businesses across engineering and construction, development and management of real estate and public realms and associated services.
IHC s industrials vertical owns stakes in a number of businesses, including Quantlase Imaging Lab, the company behind the rapid Covid-19 screening system operated on the border between Abu Dhabi and Dubai at Ghantoot. It also owns Tamouh Healthcare, Pure Health and asset management company Eltizam Group.
The capital unit contains its International Securities arm, a securities brokerage acquired from Dubai-listed investment bank Shuaa in 2019.
IHC s acquisition spree over the past 12 months has led to substantial growth in the size of the company s balance sheet and its value. At the end of March, it had total assets of Dh19.67bn, compared to Dh8.9bn at the same period last year.
IHC acquires 40% stake in healthcare firm RPM
ABU DHABI, 7 hours, 5 minutes ago International Holding Company PJSC (IHC), one of Abu Dhabi’s leading conglomerates, has acquired 40% stake in Response Plus Medical Services (RPM) through one of its subsidiaries. RPM was established in 2010 and has become one of the UAE’s largest provider of on-site healthcare management and medical emergency transfers from remote work sites. It provides medical support for oil and gas sector, chemical industries, construction sites, site clinics and ambulance services. In 2019, RPM established a presence in Saudi Arabia and Oman and has further strategic plans to expand across the GCC and Africa (Ghana and Nigeria) and India over the next five years. RPM now operates more than 200 site clinics as well as the largest fleet of ambulances in UAE. RPM is a unit of VPS Healthcare Group of Companies.