Abu Dhabi's IHC-owned Alpha Dhabi to go in for IPO

Dubai: Abu Dhabi's stock market has got confirmation of its second big IPO listing in as many days, with International Holding Company's subsidiary real estate subsidiary Alpha Dhabi Holding confirming a stock float.  The offering is expected to comprise a sale of existing shares to individuals and other investors in the UAE (as part of the UAE retail offering) and to qualified institutional and other investors.

Alpha Dhabi was incorporated in 2013 and operates across five main verticals - industries, healthcare, investments with partners, construction and hospitality. It owns a major chunk in Aldar Properties and has also been picking up choice real estate in Abu Dhabi and abroad. The investment portfolio, local and international, includes 25 subsidiaries and 40,000 employees.

This week, Mubadala owned Yahsat confirmed it was going in for an IPO, the first one in Abu Dhabi since 2017. Alpha Dhabi has Dh10 billion as paid-up capital.

“We have made the journey to become a public company in a way that’s going have a positive reflection on our growth plan," said Mohamed Thani Murshed Al Rumaithi, Chairman of Alpha Dhabi Holding. "As a public company we will have a stronger capital structure to invest in additional verticals, expand commercially and accelerate growth both organically and through acquisitions.”