Latest news with #SyedBasarShueb
Al Etihad
27-05-2025
- Business
- Al Etihad
IHC extends share buyback programme until the year-end
27 May 2025 18:06 REDDY (ABU DHABI)International Holding Company (IHC) has received approval to extend its Dh5 billion share buyback programme until December 31, 2025, according to a stock market filing issued on announced on November 14, 2024, the programme was designed to be executed in phases over one year. The first tranche, valued at Dh1.8 billion, began on November 18 last year. The second tranche, worth Dh1.5 billion, was launched on March 18. With the second phase still underway, the buyback period has now been extended until the end of this to queries from Aletihad, an IHC spokesperson confirmed that a third tranche of the share buyback programme would be initiated upon completion of the ongoing second phase. So far, 6,955,602 shares have been repurchased, though the company has not disclosed their exact value. However, based on an average price of Dh401 per share, the total value of shares bought back so far is estimated at Dh2.789 billion, leaving approximately Dh2.221 billion in buybacks remaining under the buyback initiative is aimed at enhancing shareholder value and maintaining an efficient capital structure. At the time of launch, IHC's Managing Director, Syed Basar Shueb, described the move as part of the company's long-term commitment to generating value for its per previous disclosures, all repurchased shares are to be held as treasury shares without voting rights. If these shares are not resold within two years, they will be cancelled, and the board will pass a resolution to reduce IHC's share capital to the latest stock market data mentioned in the filing, IHC's market capitalisation stands at Dh881.8 billion. The company's free float of shares, as per the August 7 disclosure, is 38.48 Holding Company (IHC) has received approval to extend its share buyback programme until December 31, 2025, the company said in stock market filing on Monday. IHC, established in 1998 to develop Abu Dhabi's non-oil sectors, announced on November 14, 2024 that it had launched a Dh5 billion share buyback programme, set to take place in phases over a year. A first tranche of Dh1.8 billion buyback commenced on November 18 of the previous year. A second tranche buyback, worth Dh1.5 billion, began on March as the second phase of the buyback is in progress, the deadline for the progamme is extended until the year-end. In specific replies to Aletihad inquires, an IHC spokesperson said the third tranche of the share buyback programme will be launched as soon as the second tranche buyback is wrapped. He said a total of 6,955,602 shares were bought back so far without specifying their value. But going by the average price of Dh401 per share, the value of shares bought back amounts Dh2.789 billion, leaving approximately Dh2.221 billion worth shares to be bought back in the remaining period. According to an August 7 stock market filing, the free float of shares stands at 38.48%. The purpose of the buyback programme is to enhance shareholder value and maintain an efficient capital structure. Syed Basar Shueb, Managing Director of IHC, stated that the programme reflects the company's commitment to generating long-term value for shareholders at the time of the launch of the programme. According to a previous filing, all repurchased shares will be held as treasury shares without voting rights. If these treasury shares are not sold back within two years, they will be cancelled, and the board will pass a resolution to reduce the company's share capital accordingly. As per the latest data mentioned in the text, IHC's market capitalisation was Dh881.8 billion.
The National
23-05-2025
- Business
- The National
Abu Dhabi's IHC to double assets to $218bn by 2030, CEO says
International Holding Company (IHC), the largest listed company in the UAE, aims to double its asset base to Dh800 billion ($218 billion) and hit the Dh200 billion annual revenue mark by the end of the decade, driven by its acquisition spree, its chief executive said. The company, whose board is chaired by Sheikh Tahnoon bin Zayed, is keen to expand its portfolio of assets in the US, India and fast-growing economies in the Central Asian region. Acquisitions as well as developing new businesses are part of the aggressive assets growth investment strategy the Abu Dhabi-listed company is following, Syed Basar Shueb told The National on the sidelines of the Make it in the Emirates summit in Abu Dhabi. 'Way before 2030" is the target perhaps in 2029, and 'we will double it, that's for sure', he said of the potential timeline for doubling the company's portfolio of assets. The UAE, the Arab world's second-largest economy, accounts for 60 per cent of the company's Dh416.5 billion asset base as of the end of the first quarter of this year,while the rest is spread across the region and the markets beyond. Mr Shueb, however, expects this ratio to inverse in the next 10 years, with the company's foreign asset portfolio accounting for about '60 per cent to 70 per cent' with the UAE hosting the rest. 'Earlier we were doing a lot of acquisitions, now we are developing new businesses very fast,' he said. The Abu Dhabi-headquartered conglomerate is a frontline company in the emirate's push to diversify its non-oil business sectors and has grown rapidly to become one of the most valuable listed holding companies in the broader Middle East and North Africa region. IHC, which has a market capitalisation of Dh883 billion, has been on an investment spree buying businesses as well as acquiring fast-growing companies over the past few years in the UAE as well as in markets across contents. Earlier this month, the company announced the launch of a $1 billion reinsurance company in partnership with the world's biggest asset manager BlackRock. It also established a new holding company 2PointZero with more than $27 billion in assets in January. IHC also revealed plans to set up a new infrastructure platform 'Gridora' in partnership with Abu Dhabi's state holding company ADQ and Modon for the development of new infrastructure projects in the UAE and markets around the globe. The company's acquisitions this year include buying Egypt's microfinance platform Maseera, with a pledge to invest $1 billion in the next five years to support its expansion. 'Acquisition is a daily thing … what we are reviewing right now is at least 50 [acquisition transactions] in multiple sectors and different geographies,' he said. Mr Shueb did not give details about the potential size of investments it plans to make on acquisitions, but said those deals will be funded through the company's own balance sheet as IHC has sufficient cash on hand for financing. Founded in 1998, IHC operates through more than 1,300 subsidiaries and aims to expand and diversify its holdings in sectors including asset management, health care, property and construction, marine and dredging, IT and communications, financial services, food production, utilities and services. Some of the companies under its umbrella include Abu Dhabi's biggest listed developer Aldar Properties, Modon Properties, Adnec Group, Presight, Al Seer Marine and NMDC Group. US and India in focus In terms of the geographic focus of its investments, the company is seeking deals in the US and India, Asia's third-largest economy. It has $60 billion worth of investments in the US alone, including in companies such as SpaceX and Ardent Healthcare. Within the next decade, IHC plans to boost its US investment by another $40 billion to $50 billion and ultimately aims to hit the total investment target in the world's biggest economy of about $120 billion, Mr Shueb said. In India, it will invest up to $110 billion, while in the CIS or Far East countries, investments are expected to be in the range of $50 billion over the same period. Data centres, renewable energy, nuclear as well as building infrastructure projects are the priority sectors of investment for the company, he added. In the US, IHC is keen to develop small modular nuclear reactors in partnership with other companies as well as buy established businesses to further expand its footprint. 'We are talking with a few players [on small modular reactors]. It's at a very advanced stage," he said. In India, the company has a partnership with Adani Group, owned by billionaire Gautam Adani, and IHC 'values that partnership a lot, and we are expanding with them", Mr Shueb said. 'India is one of the major markets for us,' he said, adding that a bulk of IHC international expansion, other than the US, is set to take place through partnerships. Potential IPOs A number of IHC units are listed on the Abu Dhabi Securities Exchange, where its own shares trade, including Modon, Multiply Group, Al Seer Marine and Alpha Dhabi Holding. The company plans to list more of its subsidiaries on the Abu Dhabi bourse, Mr Shueb said. The newly created company 2PointZero is among the companies being lined up for public floats and the listing could take place at the 'beginning of the second half', he said without giving further details on the stake being sold and how much IHC plans to raise in funding through the deal. Dh200bn revenue target by 2030 The company's aggressive growth strategy will also help it more than double its annual revenue to Dh200 billion by the end of this decade, he said. IHC reported Dh92.6 billion in revenue by the end of last year and Mr Shueb said 'if we cross Dh200 billion, we will be in great shape'. The continued growth of the UAE economy as well as new opportunities in the US will help it achieve its revenue target, he said. Opening of regional economies, including Syria, is also expected to provide new investment opportunities for IHC. 'There's a lot of development required there. Hopefully, other countries will also open up soon,' he added. Last week, the US announced lifting of economic sanctions on Syria, paving way for more investments in the country.
Arabian Business
07-05-2025
- Business
- Arabian Business
Real estate outperforms for IHC as Q1 revenue jumps 41.1% to $7.41bn
IHC, one of the world's largest investment firms, continued to gain momentum across its diversified verticals as it recorded AED27.2 billion (US$7.41 billion) in revenue for the first quarter of 2025, a massive 41.1 per cent jump compared to the Q1 last year (AED19.3 billion/US$5.26 billion). The most valuable listed company in the Middle East with a market capitalisation of AED879.6 billion (US$239.3 billion) reported a profit after tax (PAT) of AED4.1 billion (US$1.12 billion) with a net profit margin of 15.2 per cent. The Abu Dhabi company said revenue growth was supported by positive contributions from key segments, but real estate was a standout with 53.3 per cent increase in revenue compared to the same period last year. Sustained demand for existing inventory and successful new project launches contributed 42.5 per cent of IHC's total revenue. Hospitality & leisure also posted an impressive 96.6 per cent increase in revenue, driven by higher occupancy rates and robust demand across key assets, while the marine & dredging segment reported 18 per cent increase on project activity, diversification initiatives, and continued international expansion. Syed Basar Shueb, CEO of IHC, commented: 'Our Q1 2025 performance reinforces the strength of IHC's diversified model and the growing impact of our strategic investments across global markets. 'As we expanded our portfolio, we continued to drive improved operational performance and enhance recurring revenue streams, ensuring resilience and stability across our business segments. 'Beyond delivering strong financial results, we are shaping the industries of tomorrow through dynamic value networks. By connecting innovative businesses, strategic partnerships, and operational excellence, we are building a platform designed for sustained global relevance.' IHC's total assets stood at AED416.6 billion (US$113.44 billion) as of 31 March 2025, compared to AED401.8 billion (US$109.4 billion) at the end of 2024. Among some of the major highlights for IHC Group in the first quarter were Multiply Group's entry into European fashion retail by taking a 67.91 per cent controlling stake in Spain's Tendam; Alpha Dhabi's expansion in luxury hospitality by increasing its stake in NCTH to a controlling 73.7 per cent; Modon Holding's entry to the London market through a 50 per cent JV in the 2 Finsbury Avenue development; PureHealth acquiring a 60 per cent stake in Hellenic Healthcare Group, Greece's largest private healthcare provider.
Gulf Business
06-05-2025
- Business
- Gulf Business
Abu Dhabi: IHC reports net profit at Dhs4.1bn for Q1
Image: Getty Images/ For illustrative purposes International Holding Company (IHC) has posted a 41.1 per cent year-on-year jump in revenue to Dhs27.2bn in Q1 2025, driven by strong performance across its core verticals. The group's profit after tax reached Dhs4.1 bn, with a net profit margin of 15.2 per cent. 'Our Q1 2025 performance reinforces the strength of IHC's diversified model and the growing impact of our strategic investments across global markets,' said Syed Basar Shueb, CEO of IHC. 'As we expanded our portfolio, we continued to drive improved operational performance and enhance recurring revenue streams, ensuring resilience and stability across our business segments.' Total assets rose to Dhs416.6bn as of March 31, up from Dhs 401.8 bn at the end of 2024, reflecting IHC's disciplined capital allocation and strategic expansion. Return on equity stood at 9.9 per cent, underscoring the company's sustained value creation. Real estate and hospitality sectors lead revenue growth for IHC Revenue growth was led by the real estate segment, which surged 53.3 per cent year-on-year and contributed 42.5 per cent of total revenue. The growth was driven by robust demand for existing inventory and the successful launch of new projects. The marine and dredging segment delivered an 18.0 per cent rise in revenue, backed by increased project activity and international diversification. Hospitality and leisure also recorded exceptional performance with a 96.6 per cent rise in revenue, reflecting higher occupancy rates and strong demand across key assets. Real estate and construction assets grew 4.9 per cent to Dhs170.7bn year-on-year, supporting IHC's continued expansion strategy in this high-growth sector. 'Beyond delivering strong financial results, we are shaping the industries of tomorrow through dynamic value networks,' Shueb added. 'By connecting innovative businesses, strategic partnerships, and operational excellence, we are building a platform designed for sustained global relevance. IHC remains committed to being a catalyst for economic growth and innovation, while delivering long-term value to our shareholders and stakeholders worldwide.' IHC said it remains well-positioned to seize emerging market opportunities, supported by its dynamic investment strategy, operational resilience, and commitment to sustainable global growth. IHC reported a significant 41.1% year-on-year jump in revenue for the first quarter of the year, reaching AED 27.2 billion, driven by the strength of our diversified portfolio and the impact of strategic investments. Key segments powering this growth: → Real Estate &… — IHC (@ihc__official) Strategic highlights: At a glance Multiply Group acquired a 67.91 per cent stake in Spanish fashion retailer Tendam, strengthening IHC's global apparel footprint. Gridora Infrastructure Platform, joint venture with ADQ and Modon Holding, launched to drive large-scale infrastructure projects in the UAE and abroad. Alpha Dhabi increased ownership in National Corporation for Tourism & Hotels (NCTH) to 73.7 per cent, consolidating premium hotel assets. Modon Holding entered the UK market through a 50 per cent joint venture in the 2 Finsbury Avenue development. Al Ain Farms sgned a Dhs85m agreement to acquire Al Jazira Poultry Farm, enhancing its market share in the UAE. PureHealth acquired a 60 per cent stake in Hellenic Healthcare Group, Greece's largest private healthcare provider, for $2.3bn. MoU signed with Lunate to explore enrolling employees in the Ghaf Benefits plan, reflecting IHC's focus on human capital. IHC led a delegation of subsidiaries at the World Economic Forum to foster strategic international partnerships.
Al Etihad
06-05-2025
- Business
- Al Etihad
IHC reports Dh27.2b revenue, Dh4.1b profit after tax in Q1 2025
6 May 2025 23:00 ABU DHABI (ALETIHAD)International Holding Company (IHC) has reported robust first-quarter results for 2025, with revenue reaching Dh27.2 billion, up 41.1% from the same period last year, and profit after tax standing at Dh4.1 billion, a statement from the company said. The company's net profit margin came in at 15.2%, underscoring the strength of its diverse investment strong quarterly performance was led by IHC's Real Estate segment, which recorded a 53.3% year-on-year (YoY) revenue increase, contributing over 42% of total revenue. The Marine & Dredging segment posted an 18% rise in revenue, while Hospitality & Leisure saw a 96.6% jump, supported by higher occupancy rates and sustained assets climbed to Dh416.6 billion by March 31, 2025, compared to Dh401.8 billion at the end of 2024. Real Estate & Construction assets alone increased to Dh170.7 billion, a 4.9% YoY of IHC, Syed Basar Shueb, said, 'Our Q1 2025 performance reinforces the strength of IHC's diversified model and the growing impact of our strategic investments across global markets. As we expanded our portfolio, we continued to drive improved operational performance and enhance recurring revenue streams, ensuring resilience and stability across our business segments.'He added that IHC is 'shaping the industries of tomorrow through dynamic value networks' and remains committed to delivering long-term value for shareholders and in 1999 and headquartered in Abu Dhabi, IHC has grown to become the Middle East's most valuable holding company, with a market capitalisation of Dh879.6 billion. Its portfolio includes more than 1,300 subsidiaries across asset management, real estate, healthcare, financial services, and technology.
