International Holding Company (ADX: IHC), the diversified Abu Dhabi-based conglomerate, announced today that it would invest AED 1.4 billion (USD 400 million) through its subsidiary Green Transmission Investment Holding RSC Limited in the Adani Enterprises Further Public Offering (FPO), the Indian multinational publicly listed holding company and a part of Adani Group.
IHC’s first investment of the year comes as the company continues to scale and diversify its investments both locally and globally, with a focus on the markets of Europe, Africa, Asia, and South America in 2023.
Syed Basar Shueb, Chief Executive Officer, IHC said that “Our interest in Adani Group is driven by our confidence and belief in the fundamentals of Adani Enterprises Ltd; we see a strong potential for growth from a long-term perspective and added value to our shareholders.”
This is the second investment deal IHC company has completed with India’s Adani Group after last year’s Dh7.3 billion (USD 2bn) investment in three green-focused companies of the Adani Group, including Adani Green Energy, Adani Transmission, and Adani Enterprises, which are all listed on the Bombay Stock Exchange and National Stock Exchange of India.
IHC continues to look ahead this year as its ambitious progression strategy gets underway, with another acquisition across four continents expected by the end of the year alone, focusing on a fast-growing economy, rapidly expanding equity markets, and top investment destination.
Shueb added that “We are watching the international market closely for new prospects, and we will continue exploring further opportunities outside our traditional market in 2023,” IHC aims to increase its global acquisition by 70% in 2023, with the clean energy and food processing sectors being a key focus.
Also Read: LIC Releases Details Of Investments In Adani Group
