UAE-based International Holding Company (IHC) is set to list its key subsidiaries - Emirates Stallion Group (a major engineering and construction group) and Al Seer Marine - on the Abu Dhabi Securities Exchange (ADX) in the second quarter. A third unit will be named in the coming weeks.

 

Emirates Stallion Group is one of IHC’s subsidiaries and has a diversified portfolio of businesses across engineering and construction, development and management of real estate and public realms and associated services. 

 

Ever since its inception in 2006, ESG has grown rapidly becoming the region’s only all-encompassing real estate partner. It is home to five fully owned subsidiaries, 90+ operational sites, 12 marketplace presence and 4 associates and joint ventures.

 

The subsidiaries include Century Real Estate, Royal Development Company, Abu Dhabi Land General Contracting, Gulf Dunes Landscaping and Agricultural services and RAPM Architect Project Management. 

 

The company has assets of AED394 million ($107.2 million) as of the end of 2020 and over 1,000 employees.

 

The other subsidiary, Al Seer Marine is a leading marine organisation in the Arabian maritime region, with an all-encompassing portfolio of products and services. 

 

It engages in multiple marine sectors such as high-tech boatbuilding, unmanned systems development and manufacturing, Al Seer Marine Training Institute (ASMTI) for product training, maintenance and support services, supply logistics, 24x7 yacht management and project management. 

 

Founded in 2002, Al Seer Marine has assets of AED717.8 million as at the end of 2020.

 

The listing will create an attractive opportunity for current and new investors to take part in the growth of the companies, as well as benefitting IHC as a result of increased profile raising and higher visibility from these companies.

 

CEO and Managing Director Syed Basar Shueb: "IHC has continued to grow becoming the second-biggest company by value on the ADX. We will continue to enrich our diversified portfolio with strong companies that are in line with our growth strategy and goals."

 

"We believe in local product and many of our fastest growing companies are homegrown in the UAE. ESG and Al Seer Marine are ambitious companies that have continued to expand in recent years. Listing on ADX’ Second Market, will offer investors an outstanding opportunity to participate in these well-established companies’ success journey," he added. 

 

These listings will follow the three successful listings that IHC completed in 2020 of Palm Sports, Easylease and Zee Stores on ADX’s second market.

 

Over the last six months, IHC and its subsidiaries announced the pre-launch of the UAE’s first virtual wellness and prevention platform HealthyU, investments in UK-based DNA sequencing firm Oxford Nanopore Technologies, Quantlase Lab and Tamouh Healthcare, which recently developed the concept of Containerized Aid for Respiratory Emergencies (CARE), turning modular containers into fully equipped medical field hospitals such as – Sheikh Mohammed Bin Zayed Field Hospital – was completed in early March near Darfur, Sudan. 

 

IHC and its subsidiaries have also previously announced several new investments, said the statement. 

 

These include a stake in SpaceX, Elon Musk’s aerospace company, a partnership with DAL Group for a significant agricultural development in Sudan; and Multiply’s acquisition of a stake in New York data-driven marketing firm YieldMo, it added.-TradeArabia News Service