Dubai: Abu Dhabi’s secondary market will remain busy, with International Holding Co. – the stock that’s still zooming on ADX charts – to list another two subsidiaries.
“We believe in local product and many of our fastest growing companies are homegrown in the UAE,” said Syed Basar Shueb, CEO and Managing Director of IHC. “Emirates Stallion Group and Al Seer Marine are ambitious companies that have continued to expand in recent years. Listing on ADX’s Second Market, will offer investors an outstanding opportunity to participate in these well-established companies’ success journey.”
The IHC stock on its own has put in triple-digit growth rates over the last year, and the streak continues to this day, with upbeat first quarter numbers.
These follow those of Palm Sports, Easylease and Zee Stores on ADX’s second market last year. The two new listings will commence shortly and include:
IHC also announced investments such as a stake in SpaceX, Elon Musk’s aerospace company, a partnership with DAL Group for an agricultural development in Sudan; and Multiply’s acquisition of a stake in New York marketing firm YieldMo.
Emirates Stallion Group
It has a diversified portfolio of businesses across engineering and construction, development and management of real estate. ESG operates five fully-owned subsidiaries, has 90 plus operational sites, 12 marketplace presence, and four associates and joint ventures. The company had assets of Dh394 million as of end 2020.
Al Seer Marine
It is into high-tech boat-building, unmanned systems development and manufacturing. The entity had assets of Dh717.8 million as at end 2020.
According to Shueb, “IHC has continued to grow becoming the second-biggest company by value on the Abu Dhabi Securities exchange. We will continue to enrich our diversified portfolio with strong companies that are in line with our growth strategy and goals.”
