Abu Dhabi: Abu Dhabi-based conglomerate International Holding Company (ADX: IHC) announced on Tuesday that the IHC Board approved the initiation of the transfer of 2PointZero, a next-generation Holding Company comprising several diverse and dynamic companies, to IHC.
Spanning multiple sectors, business combinations of entities under common control, have been combined to form 2PointZero, boasting an impressive asset size expected to exceed Dh100 billion. A press release added that the transfer will be completed after obtaining all regulatory approvals.
IHC Chairman, Tahnoon bin Zayed Al Nahyan said: “Today, we are proud to announce the formation of 2PointZero, a next generation holding company that stands at the forefront of pioneering advancements across multiple sectors. Embracing the future with open arms, 2PointZero is committed to having a transformative impact globally.
"Our dedication to Technology and Artificial Intelligence (AI) is evident in our commitment to developing solutions that redefine industries such as Financial Services, Investment Banking, and Resource Management. Our vision transcends boundaries, and our mission is to build sustainable ecosystems that empower communities, cultivate technological excellence, and ensure financial resilience.”
2PointZero unites industry leaders such as Chimera Investments, Lunate Capital, Beltone Holdings, and International Resources Holding (IRH), Sagasse Investments and Citadel Technologies under one umbrella.
IHC was founded in 1998 as part of an initiative to diversify and develop non-oil business sectors in the UAE and has grown to become the most valuable listed holding company in the Middle East with a market cap of Dh879 billion as of September 30.
The 2PointZero portfolio, which is expected to surpass Dh100 billion in assets, reflects its commitment to excellence and strategic growth in the digital and crypto ecosystems, resource management, and more.