International Holding Company, an Abu Dhabi-based diversified conglomerate, announced today that it would be investing AED 1.4 billion ($400 million) into the Adani Enterprises Further Public Offering (FPO) through its subsidiary Green Transmission Investment Holding RSC Ltd.
“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,” said Syed Basar Shueb, chief executive officer, IHC.
This is International Holding Company’s second investment deal completed with Adani Group after last year’s $2 billion investment in three green-focused companies of the Adani Group, including Adani Green Energy ($500 million), Adani Transmission ($500 million), and Adani Enterprises ($1 billion).
“The advantage of the FPO is the historical reference for the company’s earnings report, the performance of the stock market, company’s management, business practices, and much data to bank on before making any investment decision,” Shueb explained.
IHC was founded in 1998 as part of an initiative to diversify and grow non-oil business sectors in the United Arab Emirates. It has grown to become the most valuable listed holding company in the Middle East. IHC aims to increase its global acquisition by 70% in 2023, with the clean energy and food processing sectors being a key focus.
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