DUBAI: Abu Dhabi conglomerate International Holding Co. (IHC) plans to list subsidiary Multiply, a holding company that invests in tech-focused businesses, on Abu Dhabi’s main stock market this year, IHC’s chief executive said.
The planned transaction, which could value Multiply at 8 to 10 billion dirhams ($2.2-$2.7 billion), would be the latest in a string of listings and deals for IHC, a firm with a market capitalization of $72.5 billion.
“We’re planning the listing before the end of the year, it’s going to be an IPO, a main market listing,” IHC’s CEO Syed Basar Shueb told Reuters.
IHC plans to offer 30 percent of Multiply’s shares and is working with local banks on the transaction, he added.
The planned deal would follow a surge of new listings on Abu Dhabi’s ADX bourse this year, including companies owned by oil giant Abu Dhabi National Oil Co. (ADNOC) and state investor Mubadala.
The Abu Dhabi stock index is the best performing market in the Gulf this year, helped by higher oil prices, incentives to boost trading and more listings.
“Definitely one of the reasons (for the listing) is market conditions ... but our long term strategy is to list every single entity which we invest into in the market eventually,” said Shueb.
IHC, whose assets include firms in the fast-growing health care and industrial sectors, became Abu Dhabi’s most valuable listed company in June after the listing of subsidiary Alpha Dhabi.
It is chaired by Sheikh Tahnoon bin Zayed Al Nahyan, the United Arab Emirates’ national security adviser and a brother of the country’s de facto ruler Abu Dhabi Crown Prince Mohammed bin Zayed.
The company also plans an IPO for its majority-owned health care firm Pure Health, which Shueb said could happen as soon as March next year.
It is looking at acquisitions abroad, including food processing facilities and health care assets in Turkey, he said, adding discussions were at an early stage.
IHC recently sold a 50 percent stake in another subsidiary, Eltizam, to Abu Dhabi state investor ADQ. Eltizam could also be listed next year, said Shueb.
Sheikh Tahnoon is also the chairman of ADQ.
Abu Dhabi’s IHC to IPO subsidiary Multiply this year, CEO says
https://arab.news/y6j83
Abu Dhabi’s IHC to IPO subsidiary Multiply this year, CEO says
- Multiply is a holding company that invests in tech-focused businesses
- IPO for its majority-owned health care firm Pure Health could happen as soon as March next year
Related
Gulf-EU value chain integration signals shift toward long-term economic partnership: GCC secretary general
RIYADH: Value chains between the Gulf and Europe are poised to become deeper and more resilient as economic ties shift beyond traditional trade toward long-term industrial and investment integration, according to the secretary general of the Gulf Cooperation Council.
Speaking on the sidelines of the World Governments Summit 2026 in Dubai, Jasem Al-Budaiwi said Gulf-European economic relations are shifting from simple commodity trade toward the joint development of sustainable value chains, reflecting a more strategic and lasting partnership.
His remarks were made during a dialogue session titled “The next investment and trade race,” held with Luigi Di Maio, the EU’s special representative for external affairs.
Al-Budaiwi said relations between the GCC and the EU are among the bloc’s most established partnerships, built on decades of institutional collaboration that began with the signing of the 1988 cooperation agreement.
He noted that the deal laid a solid foundation for political and economic dialogue and opened broad avenues for collaboration in trade, investment, and energy, as well as development and education.
The secretary general added that the partnership has undergone a qualitative shift in recent years, particularly following the adoption of the joint action program for the 2022–2027 period and the convening of the Gulf–European summit in Brussels.
Subsequent ministerial meetings, he said, have focused on implementing agreed outcomes, enhancing trade and investment cooperation, improving market access, and supporting supply chains and sustainable development.
According to Al-Budaiwi, merchandise trade between the two sides has reached around $197 billion, positioning the EU as one of the GCC’s most important trading partners.
He also pointed to the continued growth of European foreign direct investment into Gulf countries, which he said reflects the depth of economic interdependence and rising confidence in the Gulf business environment.
Looking ahead, Al-Budaiwi emphasized that the economic transformation across GCC states, driven by ambitious national visions, is creating broad opportunities for expanded cooperation with Europe.
He highlighted clean energy, green hydrogen, and digital transformation, as well as artificial intelligence, smart infrastructure, and cybersecurity, as priority areas for future partnership.
He added that the success of Gulf-European cooperation should not be measured solely by trade volumes or investment flows, but by its ability to evolve into an integrated model based on trust, risk-sharing, and the joint creation of economic value, contributing to stability and growth in the global economy.
GCC–EU plans to build shared value chains look well-timed as trade policy volatility rises.
In recent weeks, Washington’s renewed push over Greenland has been tied to tariff threats against European countries, prompting the EU to keep a €93 billion ($109.7 billion) retaliation package on standby.
At the same time, tighter US sanctions on Iran are increasing compliance risks for energy and shipping-related finance. Meanwhile, the World Trade Organization and UNCTAD warn that higher tariffs and ongoing uncertainty could weaken trade and investment across both regions in 2026.
