#AbuDhabi’s IHC Plans to List $27 Billion Holding Firm 2PointZero in 2025 - Bloomberg

Abu Dhabi’s IHC Plans to List $27 Billion Holding Firm 2PointZero in 2025 - Bloomberg

Abu Dhabi’s largest listed company, led by a key member of the emirate’s royal family, is looking to list a holding firm worth more than 100 billion dirhams ($27 billion) by next year, according to its chief executive officer.

The newly created firm called 2PointZero will be going to the market “sometime next year,” Syed Basar Shueb, chief executive officer of its parent company International Holding Co. said in an interview.

IHC consolidated existing and newly created firms from Royal Group to form 2PointZero earlier this year, which spans sectors from financial services to mining. These firms include Lunate, Abu Dhabi’s newest fund, International Resources Holding, which invested more than $1 billion in Zambia’s Mopani copper mine, and private investment firm Chimera.

It was decided these companies should come into a “separate ecosystem so that when we list the business, it’ll get the significant capital injection and that will help the growth of these businesses,” the CEO said. Its valuation will be “north of 100 billion dirhams.”

IHC and Royal Group are chaired by Sheikh Tahnoon bin Zayed Al Nahyan, a brother of the United Arab Emirates’ ruler and the country’s national security adviser. 2PointZero named Mariam Almheiri, the UAE’s former minister of climate change and environment, as CEO. Sheikh Tahnoon is already linked to firms that, by weighting, make up more than two thirds of the Abu Dhabi index.