Abu Dhabi Royal-Led Firm Ethmar to List After Capital Raise - Bloomberg
Ethmar International Holding, which is led by a son of the United Arab Emirates’s ruler, is set to go public in Abu Dhabi after it raises as much as 700 million dirhams ($191 million).
EIH, an investment vehicle with dozens of subsidiaries, plans to offer investors a 13% to 15% stake through a capital raise of 600 million dirhams to 700 million dirhams, according to an investor presentation seen by Bloomberg News. It will then list on the Abu Dhabi stock exchange on May 1.
The firm, which holds more than 25 subsidiaries spanning real estate, energy, technology, health care, sports and investments, is chaired by Sheikh Hamdan bin Mohammed bin Zayed Al Nahyan, whose father is Sheikh Mohammed bin Zayed, known as MBZ.
The company, which would be valued at more than 4 billion dirhams, is planning a range of acquisitions, according to the presentation. These include one of the top three financial services companies in the UAE, one of the largest tourism firms in Abu Dhabi, an engineering and construction company and one of the largest pharmacy chains in the capital.
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