Latest news with #ADQ
Zawya
4 days ago
- Business
- Zawya
Abu Dhabi's Etihad Airways may delay $1bln IPO to 2026
Abu Dhabi's Etihad Airways is considering deferring its $1 billion IPO to the first quarter of 2026, allowing the UAE airline to capitalise on its recent partnerships, a source with knowledge of the matter told Zawya. These agreements include a JV with Ethiopia inked in March and another with China Eastern Airlines in April. The carrier has also accelerated its network expansion after the announcement of Wizz Air's decision to cease operations in Abu Dhabi from September 1. 'Etihad has done well signing JVs with partner airlines this year, and it now needs to deliver on these for its investors. While coming to market is not an issue, it just makes better business sense to push the IPO to early 2026,' the source said. Etihad is fully owned by the UAE wealth fund ADQ, and the airline's CEO, Antonoaldo Neves, has maintained that the decision to go public ultimately lies with its shareholder. Zawya reached out to Etihad, but no comment was available at the time of publication. The imposition of US-led tariffs, followed by a sudden flare-up in Middle Eastern tensions, had given markets pause, but Etihad's decision to defer its listing from H1 2025 was largely led by its growth strategy, the source said. 'Etihad is a national airline, with a shareholder that is not value sensitive. It wants to go public when there's a clearer story to map out its growth. You want to bring it [IPO] at the most opportune time, with market conditions that are 100% and will benefit the decision,' two banking sources familiar with the matter said. Growth plan Hungarian low-cost carrier Wizz Air's announcement this month has also created a market gap that could prove to be a lucrative opportunity for Etihad to capitalise on in the immediate months that follow, said analysts. Nishit Lakhotia, Group Head of Research at Bahrain's Sico Bank, said Wizz Air's decision to leave Abu Dhabi is an opportunity for Etihad to leverage its position as a market leader at a time when several airlines in the region have faced turbulence over repeated route cancellations and airport closures stemming from escalating geopolitical tensions. 'The total profitability of regional airlines last year was at record levels, and while some geopolitical challenges did affect Q2, the broader theme remains intact, and an Etihad IPO should ideally be on the cards,' said Lakhotia. Etihad has expanded rapidly after ownership was transferred to ADQ in late 2022, revising its growth target to carry 38 million passengers by the end of the decade, up from the previous goal of 33 million. In May, the airline reported a profit of 685 million UAE dirhams ($186.5 million) for the first quarter of 2025, up 30% year-on-year, driven by strong demand and efficiency gains. Fleet expansion has been a key focus of its $7 billion investment plan. Yet some say market sentiment towards aviation stock remains cautious following the muted performance of Saudi Arabia's budget carrier Flynas in June, as escalating tensions between Iran and Israel led to the closure of several airports and restricted airspace across the region. Despite being one of the biggest IPOs of the region at $1.09 billion, the airline's stock closed over 3% lower on its debut. John Strickland, an aviation analyst and the director of London-based JLS Consulting, observed that while there may be market sensitivity about investing in airlines currently, it would not present a hurdle to future listings in this sector. Strickland sees Etihad's IPO going ahead soon. (Reporting by Bindu Rai, editing by Seban Scaria)
Time of India
4 days ago
- Business
- Time of India
Aadhar Housing Finance share surge over 7% on stake sale buzz
Aadhar Housing Finance shares surged 7.33% to Rs 533 on Monday, following reports that an investment vehicle backed by Abu Dhabi's ADQ and Sheikh Tahnoon bin Zayed al-Nahyan is in advanced talks to acquire a minority stake in the company. The potential investment—estimated at $200–225 million (Rs 1,750–2,000 crore)—would translate into a 10–12% stake in the affordable housing finance firm through a secondary share sale. A formal announcement is expected in the coming weeks, sources familiar with the matter said, according to a report by The Economic Times. Aadhar Housing Finance, backed by private equity giant Blackstone, made its stock market debut in 2024. The prospective stake sale would mark a significant foreign investment move in the Indian financial services sector, and is seen as a vote of confidence in the long-term growth of affordable housing finance in India. This will follow a larger, nearly $2 billion (Rs 17,335 crore) capital commitment by Blackstone along with two of its sponsors or limited partners (LPs). This will be through the transfer of most of Blackstone's existing three-fourths shareholding into a new 'continuation' vehicle, similar to what it did in Mphasis in 2021. Blackstone declined to comment on the identity of the incoming investor or the specifics of the deal. ADQ and Sheikh Tahnoon's office have also not responded to media queries. Market participants see the development as a positive signal for the company's prospects and stability of ownership. The stock reacted accordingly, recording one of its sharpest single-day gains since listing. Aadhar Housing Finance touched a new 52-week high of Rs 538 during intraday trading, reflecting growing investor interest amid stake sale buzz and strong technical momentum. From a technical view, Aadhar Housing's RSI (14) is at 60.5, indicating neutral to bullish momentum. It's not overbought or oversold, suggesting the stock has room to rise further without being overextended. Additionally, the stock is showing bullish signals on moving averages. It is currently trading above all 8 key Simple Moving Averages (SMAs)—from the 5-day to the 200-day SMA. This broad-based strength across short-, medium-, and long-term averages reinforces the uptrend and suggests sustained buying interest.
Economic Times
4 days ago
- Business
- Economic Times
ADQ-Sheikh Tahnoon vehicle eyes $200 mn stake in Aadhar Housing Finance
Agencies Representative Image Mumbai: An investment vehicle backed by Abu Dhabi sovereign investor ADQ and partly owned by Sheikh Tahnoon bin Zayed al-Nahyan is in advanced discussions to buy a minority stake in Blackstone-backed Aadhar Housing Finance, said people in the know. Sheikh Tahnoon is the United Arab Emirates national security adviser as well as ADQ chair. The $200-225 million investment (Rs 1,750-2,000 crore) will be made through the secondary sale of shares for a 10-12% stake in the affordable housing finance company, which held an IPO in 2024. A formal announcement is expected in the coming weeks, said the people mentioned cited above. This will follow a larger, near $2 billion (Rs 17,335 crore) capital commitment, by Blackstone along with two of its sponsors or limited partners (LPs). This will be through the transfer of most of Blackstone's existing three-fourths shareholding into a new 'continuation' vehicle, similar to what it did in Mphasis in 2021. Blackstone declined to comment about the identity of the new investor or any other details. ADQ //and Sheikh Tahnoon's office// didn't respond to queries. Over the weekend, the company made a public disclosure that Blackstone funds BCP Asia II Holdco VII Pte, Blackstone Capital Partners (CYM) IX and Blackstone Capital Partners (CYM) IX AIV-FLP have made an open offer to buy 113.5 million Aadhar shares, translating to a 25.82% stake, from public shareholders as per regulations at Rs 469.97 apiece. The open offer was triggered as Blackstone is flipping a majority share (about 64%) of its shareholding from one set of funds to two new funds of the firm at Rs 425 apiece, to ensure continuity. The value of this secondary transaction is Rs 12,000 crore ($1.4 billion). If the open offer is fully subscribed, Blackstone will pay a further Rs 5,335 crore ($620 million) in cash. JM Financial is helping with the open offer. Blackstone may have to sell some stock to comply with the ceiling of 75% non-public shareholding, if the offer is fully stake sale to the new Abu Dhabi vehicle is also expected to be at a similar Friday, Aadhar closed at Rs 496.90 for a market value of Rs 21,469.03 crore. In the past month, it has appreciated 12.11% in anticipation of a transaction. Year to date it is up 18.63% on the back of a robust performance. The company reported a 19% increase in net profit to Rs 237 crore in the first quarter ended funds, in which a private equity group sells assets from one of the funds they manage to a newer one also managed by the firm, are widely prevalent in the west. It's catching on in India with Chrys Capital and Multiples launching similar structures for some of their investments such as National Stock Exchange (NSE), Vastu Housing Finance, Quantiphi and APAC Financial Services. According to investment bank Jefferies, buyout groups have used this strategy, regarded as controversial by some analysts, to exit $ 41 billion of investments in the first six months of 2025. Such transactions hit a record 19% of all sales by the industry for the period, up 60% from a year developed markets, funds have been struggling to find external buyers or list holdings and return capital to investors. In growth markets like India, they argue that companies like Aadhar have a significant growth runway left for a fund to stay invested and ride the upside. Typically, a fund with a 10-year lifespan will have a three-to-five-year investment the IPO, even though several strategic financial groups or funds approached Blackstone to either partially or fully exit Aadhar, a transaction could not be concluded due to valuation mismatches, said people with knowledge of the matter.'Blackstone has been a committed partner to Aadhar since 2019, playing a key role over the past six years in strengthening its position as India's largest affordable housing finance company. That is what made it do an Mphasis with Aadhar too,' said an executive in the know. 'The fundamentals of the affordable housing segment remain strong giving it the confidence to stay invested and even rope in new, high-profile investors.' The industry is likely to see a five-year CAGR of 17-18%.The management and the board will stay in place. Under Blackstone's six-year ownership, Aadhar's AUM has ballooned to $3 billion, 1.2x that of its nearest than ADQ, Abu Dhabi has several sovereign investment funds, including ADIA, Mubadala and AI-focused MGX. The oil-rich emirate has been keen on betting large sums to back new vehicles as it positions itself as a hub of global capital. For example, in 2024, ADQ and Chimera Investment--part of the sprawling business empire of Sheikh Tahnoon–launched Lunate, which has emerged as one of the hottest new asset managers of the region, which has invested in close to 30 deals in one year. Lunate also owns Alterra, a $30 billion climate fund, with international groups BlackRock, TPG and Brookfield. ADQ has committed $6.5 billion to Alterra. Lunate includes Alterra in its assets under management.
Time of India
4 days ago
- Business
- Time of India
ADQ-Sheikh Tahnoon vehicle eyes $200 mn stake in Aadhar Housing Finance
An investment vehicle backed by Abu Dhabi's ADQ, linked to Sheikh Tahnoon bin Zayed al-Nahyan, is in advanced talks to acquire a 10-12% stake in Aadhar Housing Finance from Blackstone for $200-225 million. This follows Blackstone's near $2 billion capital commitment via a continuation vehicle. The deal highlights strong investor confidence in India's affordable housing sector and Aadhar's growth potential. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Mumbai: An investment vehicle backed by Abu Dhabi sovereign investor ADQ and partly owned by Sheikh Tahnoon bin Zayed al-Nahyan is in advanced discussions to buy a minority stake in Blackstone-backed Aadhar Housing Finance , said people in the know. Sheikh Tahnoon is the United Arab Emirates national security adviser as well as ADQ $200-225 million investment (Rs 1,750-2,000 crore) will be made through the secondary sale of shares for a 10-12% stake in the affordable housing finance company, which held an IPO in 2024. A formal announcement is expected in the coming weeks, said the people mentioned cited will follow a larger, near $2 billion (Rs 17,335 crore) capital commitment, by Blackstone along with two of its sponsors or limited partners (LPs). This will be through the transfer of most of Blackstone's existing three-fourths shareholding into a new 'continuation' vehicle, similar to what it did in Mphasis in declined to comment about the identity of the new investor or any other details. ADQ //didn't respond to the weekend, the company made a public disclosure that Blackstone funds BCP Asia II Holdco VII Pte, Blackstone Capital Partners (CYM) IX and Blackstone Capital Partners (CYM) IX AIV-FLP have made an open offer to buy 113.5 million Aadhar shares, translating to astake, from public shareholders as per regulations at Rs 469.97 open offer was triggered as Blackstone is flipping a majority share (about 64%) of its shareholding from one set of funds to two new funds of the firm at Rs 425 apiece, to ensure continuity. The value of this secondary transaction is Rs 12,000 crore ($1.4 billion). If the open offer is fully subscribed, Blackstone will pay a further Rs 5,335 crore ($620 million) in Financial is helping with the open offer. Blackstone may have to sell some stock to comply with the ceiling of 75% non-public shareholding, if the offer is fully stake sale to the new Abu Dhabi vehicle is also expected to be at a similar Friday, Aadhar closed at Rs 496.90 for a market value of Rs 21,469.03 crore. In the past month, it has appreciated 12.11% in anticipation of a transaction. Year to date it is up 18.63% on the back of a robust performance. The company reported a 19% increase in net profit to Rs 237 crore in the first quarter ended funds, in which a private equity group sells assets from one of the funds they manage to a newer one also managed by the firm, are widely prevalent in the west. It's catching on in India with Chrys Capital and Multiples launching similar structures for some of their investments such as National Stock Exchange (NSE), Vastu Housing Finance, Quantiphi and APAC Financial to investment bank Jefferies, buyout groups have used this strategy, regarded as controversial by some analysts, to exit $ 41 billion of investments in the first six months of 2025. Such transactions hit a record 19% of all sales by the industry for the period, up 60% from a year developed markets, funds have been struggling to find external buyers or list holdings and return capital to investors. In growth markets like India, they argue that companies like Aadhar have a significant growth runway left for a fund to stay invested and ride the upside. Typically, a fund with a 10-year lifespan will have a three-to-five-year investment the IPO, even though several strategic financial groups or funds approached Blackstone to either partially or fully exit Aadhar, a transaction could not be concluded due to valuation mismatches, said people with knowledge of the matter.'Blackstone has been a committed partner to Aadhar since 2019, playing a key role over the past six years in strengthening its position as India's largest affordable housing finance company. That is what made it do an Mphasis with Aadhar too,' said an executive in the know. 'The fundamentals of the affordable housing segment remain strong giving it the confidence to stay invested and even rope in new, high-profile investors.'The industry is likely to see a five-year CAGR of 17-18%.The management and the board will stay in place. Under Blackstone's six-year ownership, Aadhar's AUM has ballooned to $3 billion, 1.2x that of its nearest than ADQ, Abu Dhabi has several sovereign investment funds, including ADIA, Mubadala and AI-focused MGX. The oil-rich emirate has been keen on betting large sums to back new vehicles as it positions itself as a hub of global capital. For example, in 2024, ADQ and Chimera Investment--part of the sprawling business empire of Sheikh Tahnoon–launched Lunate, which has emerged as one of the hottest new asset managers of the region, which has invested in close to 30 deals in one year. Lunate also owns Alterra, a $30 billion climate fund, with international groups BlackRock, TPG and Brookfield. ADQ has committed $6.5 billion to Alterra. Lunate includes Alterra in its assets under management.
Al Etihad
4 days ago
- Business
- Al Etihad
ADQ completes acquisition of majority stake in Aramex
27 July 2025 20:32 A. SREENIVASA REDDY (ABU DHABI)ADQ, an active sovereign investor focused on critical infrastructure and global supply chains, has completed the acquisition of a majority stake in a statement, ADQ said the voluntary tender offer for Aramex, submitted by its wholly owned indirect subsidiary Q Logistics Holding, has become will now become the majority shareholder in Aramex, with a 63.16% stake when combined with the shareholding held by AD Ports Group, in which ADQ holds a majority latest acquisition is confirmed by the Dubai Financial Market's data shows Q Logistics Holding holds 40.4492%, GeoPost SA 28%, and Abu Dhabi Ports Company 22.69%. The remaining 8.9% is held possibly by retail investors and smaller had initially aimed to acquire 100% of Aramex and potentially delist the company from the Dubai Financial Market. However, it secured voluntary acceptance from only 40.44% of shareholders. An FAQ published at the time of the offer stated, 'If you decide not to participate in the offer, you will be entitled to keep your shares. To the extent the offeror obtains 90% plus 1 share of the total share capital of Aramex, then the offeror is entitled to apply for the compulsory acquisition of the remaining securities held by minority shareholders.' As this threshold was not met, several shareholders, including GeoPost SA, which holds 28%, retained their a subsidiary of France's La Poste, became a shareholder in Aramex in 2021, initially acquiring a 24.9% stake and later increasing it to 28% in 2022, according to information available on Aramex's website.Q Logistics announced its intention to acquire up to 100% of Aramex shares not held by Abu Dhabi Ports on January 13, 2025. The Securities and Commodities Authority approved the offer document on February 9, and Aramex disclosed its receipt to the market the following February 11, Aramex's board reviewed the offer and HSBC's fairness opinion, which deemed the offer financially fair, and recommended that shareholders accept. A formal circular with these details was published on February 13. The offer was priced at Dh3 per share and open for acceptance from February 10 to March March 28, Aramex announced it had received final confirmation from ADQ that Q Logistics had secured acceptances amounting to 40.57%. When combined with the 22.69% held by AD Ports, this brought ADQ's total effective ownership to 63.26%, exceeding the minimum threshold set by SCA's Mergers and Acquisitions Rules. The offer became unconditional on July 22, 2025, following receipt of all regulatory approvals and said Aramex will be integrated into its Transport & Logistics cluster, reinforcing Abu Dhabi's position as a global logistics hub. With operations in over 65 countries and significant warehousing and trucking capacity, Aramex is expected to strengthen ADQ's multimodal logistics platform. ADQ Deputy Group CEO, Mansour AlMulla, said, 'ADQ's majority shareholding in Aramex marks a strategic step toward advancing our vision to build a globally integrated logistics platform anchored in the UAE. Aramex brings strong capabilities and operational depth that complement our existing investments across air, sea, and land infrastructure. Its addition enhances the services layer of the logistics value chain and supports the development of end-to-end trade and supply chain solutions. We believe Aramex is well-positioned to unlock long-term value through greater integration with ADQ's broader portfolio, and we are confident in its ability to deliver sustainable growth.'
