Abu Dhabi’s IHC reportedly mulling IPO for 2PointZero

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.