Abu Dhabi’s IHC to List Three of Its Units Starting Next Week
The fourth biggest company by market capitalization in the United Arab Emirates will list three of its units on the stock exchange in its home market.
International Holdings Company PJSC, which has a value of about $20 billion, will list Palms Sports, Zee Stores and Ease Lease on the second market of the Abu Dhabi Securities Exchange next week, according to a statement Thursday.
IHC expanded its portfolio rapidly in the past few years through a flurry of mergers and acquisitions, currently holding majority stakes in companies ranging from real estate to utilities and health care to food services. Its shares have soared more than 550% in 2020. They were up 0.3% as of 13:12 p.m. in the UAE on Thursday.
More details from the statement:
- Palm Sports, a provider of sports education programs, will start trading on Dec. 21, with a nominal share capital of 150 million dirhams
- Zee Stores, an importer and distributer of fresh and canned goods, will make its debut on Dec. 23 with a nominal share capital of 100 million dirhams
- Easy Lease, a supplier of rental motorcycles for the delivery sector, to be listed on Dec. 27, with a nominal share capital of 30 million dirhams
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