Abu Dhabi’s IHC reportedly mulling IPO for 2PointZero
ADX's largest listed company consolidated firms to form $27 billion subsidiary with interests from finance to mining , Bloomberg reports
The Abu Dhabi Securities Exchange's ADX logo is seen on a smartphone. (Photo: Getty Images)
Abu Dhabi’s largest listed company, International Holding Co., is planning to hold an IPO next year for its new 2PointZero subsidiary, IHC’s CEO Syed Basar Shuebis said in a Bloomberg interview.
Shuebis put the value of the firm, which has interests ranging from financial services to mining, at “north of 100 billion dirhams ($27 billion).”
IHC, which is listed on the Abu Dhabi Securities Exchange (ADX), is chaired by Sheikh Tahnoon bin Zayed, a brother of the UAE’s President and the country’s National Security Adviser.
Mariam Almheiri, the UAE’s former Minister of Climate Change and Environment, was named as 2PointZero’s CEO earlier this year.