Multiply Group shareholders approve 2PointZero, Ghitha acquisitions

Dubai: Multiply Group said its shareholders have approved key resolutions paving the way for the company’s planned acquisitions of 2PointZero Holding RSC Limited and Ghitha Holding PJSC, in a move aimed at creating one of the UAE’s largest diversified investment groups with a combined value of around Dh120 billion

The approvals came during the company’s General Assembly Meeting (GAM), where shareholders voted in favor of both special and ordinary resolutions to proceed with the acquisitions via share-swap transactions.

Under the approved plan, Multiply Group will issue 23.36 billion new shares, increasing its paid-up capital from Dh2.8 billion to Dh8.64 billion to facilitate the transactions. The company will also change its trade name to “Two Point Zero Group P.J.S.C.” and expand its board of directors from five to nine members.

The proposed acquisitions mark a major step in Multiply’s ongoing transformation into what it calls a “next-generation investment holding company.” Once completed, the consolidation will bring together Multiply, 2PointZero, and Ghitha Holding under one structure — creating a platform focused on energy and consumer sectors, backed by a significant alternative investment arm.

Strategic shift

Chairman Syed Basar Shueb said the shareholder vote underscored investor confidence in Multiply Group’s long-term strategy.

“Today’s shareholder approval reflects confidence in Multiply Group’s strategic direction and our commitment to long-term value creation,” he said. “The acquisitions of 2PointZero and Ghitha strengthen our platform and position us to capture opportunities across transformative sectors.”

The group said the transaction will help enhance portfolio synergies, broaden its investment reach, and accelerate growth across existing verticals.

Regulatory review

The GAM authorized Multiply Group’s board to proceed with all necessary steps to implement the resolutions — including executing the share-swap process, updating the company’s articles of association, and arranging for the listing of the newly issued shares on the Abu Dhabi Securities Exchange (ADX) once regulatory clearances are secured.

The company said the proposed restructuring represents a key milestone in its growth strategy, moving it closer to its goal of building a globally competitive, multi-sector investment platform headquartered in Abu Dhabi.

The transactions remain subject to final regulatory approvals before completion.