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.
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International Holding Company (IHC) will list three subsidiaries on Abu Dhabi Securities Exchange’s secondary market to boost their growth.
Boat manufacturer Al Seer Marine and Emirates Stallion Group (ESG) will be listed in the second quarter of this year, the company said in a statement on Friday. It is also going to list another subsidiary and the company will disclose the name in the coming weeks.
“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,” the company said.
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Mubadala seizes on 144% stock rally to sell stake in Aldar Properties
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Mubadala sold a 12 per cent stake in Aldar to Alpha Dhabi Holding
April 1, 2021
Abu Dhabi wealth fund Mubadala Investment Co. sold a $950m stake in Aldar Properties, cashing in on a surge in the developer’s shares after it was awarded contracts worth billions of dollars.
Mubadala, the $232bn sovereign wealth fund, sold a 12 per cent stake in Aldar to Alpha Dhabi Holding, a name little known to investors. Mubadala will remain the largest shareholder in the company, which is the biggest developer in the United Arab Emirates, with a 25 per cent stake.