DUBAI: The International Holding Company (IHC), one of Abu Dhabi’s largest conglomerates, has completed a 45 percent stake purchase in construction giant Alpha Dhabi Holding (ADH).
The acquisition is part of the Abu Dhabi-listed company’s plan to diversify its investment portfolio, it said in a statement.
“The move will increase and diversify our investment vertical, as we continually seek strategic partnerships with local and international players and further strengthen our leadership position in the marketplace,” Syed Basar Shueb, chief of IHC, said.
IHC has made a number of high profile investments which include a stake in SpaceX, the space exploration venture of Elon Musk.
The group employs over 22,000 people, and is involved in the development of wide range projects, including mix-used and high-rise property, mass housing and infrastructure.
Abu Dhabi’s IHC acquires 45% stake in construction giant Alpha Dhabi Holding
https://arab.news/w3cbh
Abu Dhabi’s IHC acquires 45% stake in construction giant Alpha Dhabi Holding
- IHC has made a number of high profile investments which include a stake in SpaceX
Stc Group issues US dollar-denominated sukuk with a total value of $2bn
RIYADH: Stc Group has issued US dollar-denominated sukuk with a total value of $2 billion across two tranches.
The group clarified that the issuance included the offering of $750 million in sukuk with a 5-year maturity at a yield of US Treasury plus 75 basis points, and an issuance of $1.250 billion with a 10-year maturity at a yield of UST plus 90 basis points, according to the Saudi Press Agency.
It noted that the total order book exceeded $8 billion across both tranches, with a coverage rate exceeding 4 times, and participation from over 300 investors in the subscription.
The issuance garnered strong demand from a broad and diverse base of international investors, reflecting solid confidence in the robustness and efficiency of stc Group’s business model and strategy.
This strategy is aimed at strengthening its digital leadership, seizing infrastructure opportunities, enabling massive projects, and contributing to the realization of Vision 2030 objectives, with a focus on achieving sustainable growth based on operational efficiency and maximizing shareholder value.
This issuance enhances stc Group’s access to international capital markets and solidifies investor confidence in the strength of its credit position.
It also supports its strategic role in accelerating the pace of digital transformation in the Kingdom and building a thriving digital economy.
