Alpha Dhabi Holding, one of the fast-growing investments holding companies in the Middle East, has announced its intention to proceed with an initial public offering (IPO).
The International Holding Company (IHC) subsidiary plans to list its ordinary shares on Abu Dhabi Securities Exchange (ADX) on Sunday.
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 as part of the qualified investor offering.
Incorporated in 2013, the company, which has AED10 billion in paid-up capital, operates across five main verticals – industries, healthcare, investments with partners, construction and hospitality.
Its investment portfolio, local and international, includes 25 subsidiaries and 40,000 employees.
Its long-term strategy is to be a diversified holding company through which it seeks to grow by acquiring businesses in the industrial and hospitality sectors, in addition to other partnerships.
In March, the company acquired 12.1 percent stake in Aldar Properties while it acquired assets from privately held Murban Energy, valued at AED2.5 billion, earlier this month.
Mohamed Thani Murshed Al Rumaithi, chairman of Alpha Dhabi Holding, said: “We have made the journey to become a public company in a way that’s going have a positive reflection on our growth plan, and 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”.
Syed Basar Shueb (pictured above), CEO and managing director of IHC, added: “We invested in Alpha Dhabi in early 2021 and we have used our sector experience to reorganise, integrate and transform Alpha Dhabi into a leading UAE holding company with special focus on construction and hospitality.
“The business is growing fast, highlighted by the 30 percent jump in first quarter revenue and gaining a listing on a major stock exchange will enhance its already strong platform and reputation. We are delighted to have supported its management team to deliver on its Abu Dhabi Stock Exchange IPO.”
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