International Holding Company (IHC) the diversified Abu Dhabi-based conglomerate, announced today that it would be investing USD 400 million into the Adani Enterprises FPO, the Indian multinational publicly listed holding company and a part of Adani Group, through it's subsidiary Green Transmission Investment Holding RSC Limited.
Statement of Chief Executive Officer of IHC:
Chief Executive Officer of IHC Syed Basar Shueb said " Our interest in Adani Group is driven by our confidence and belief in the fundamentals of Adani Enterprises Ltd; We see a strong potential for growth from a long-term perspective and added value to our shareholders,"
Other Major Investment deal with Adani Group:
This is the second investment deal International Holding Company has completed with India's Adani Group after last year's USD 2 billion investment in three green-focused companies of the Adani Group, including Adani Green Energy, Adani Transmission and Adani Enterprises, which are all listed on the Bombay Stock Exchange and National Stock Exchange of India.
Syed Basar Shueb also explained " The advantage of the Adani Enterprises FPO is the historical reference for the company's earnings report, company's management, business practices, and much data to bank on before making any investment decision. and We are watching the international market closely for new prospects, and we will continue exploring further opportunities outside our traditional market in 2023."
Aims of International Holding company (IHC):
IHC major aims to increase its global acquisition by 70% in 2023, with the clean energy and food processing sectors being a key focus.
About International Holding Company (IHC):
International Holding Company (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 capitalization of AED 648 billion as of September 30, 2022. The company endeavors to implement sustainability, innovation, and economic diversification initiatives across what is now one of the region's largest conglomerates. IHC is included in FTSE ADX 15 index (FADX 15), representing the top 15 largest and most liquid companies on the ADX.
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