Investment giant International Holding Company (IHC) plans to list its recently established subsidiary 2PointZero on the Abu Dhabi bourse sometime next year, IHC CEO Syed Basar Shueb told Bloomberg. Details on the size and value of the listing were not disclosed.

Refresher: IHC set up 2PointZero earlier in January as a holding company with some AED 100 bn (USD 27 bn) of assets under its umbrella, including Chimera Investment, private-markets focused firm Lunate, crypto mining player Citadel Technologies, Middle-East focused Sagasse Investments, Egypt’s Beltone Financial Holding, as well as Abu Dhabi’s International Resources Holding.

IHC has been eyeing the listing for some time: The firm’s initial decision to move the assets under a new holding came in anticipation of a listing debut, Shueb adds. The business listing is expected to raise “significant capital injection” for the companies, helping fuel their growth.

And there’s more: IHC is also planning to debut two more holdings — International Technology Holding (ITH) and Sirius International Holding — on the ADX, with the company prioritizing internal business growth over pursuing new sectors, Shueb told Bloomberg. ITH will hit the bourse this year, while Sirius will likely go live in 2025.

IN OTHER IHC NEWS-

IHC’s International Resources Holding (IRH) is looking to bid for private equity player EMR Capital's 80% stake in Zambia’s Lubambe Copper Mine, Reuters reports, citing sources familiar with the details. EMR Capital previously received a USD 1 mn offer from China's JHCX Mining. JHCX Mining also offered to take over the project's USD 857 mn debt.

It’s not the first time IRH gatecrashes: IRH shelled out USD 620 mn for a last-minute buyout of a 51% stake in Zambia's Mopani Copper Mines in December 2023. The IHC unit became the Zambian government's preferred investor for Mopani mines ahead of Sibanye Stillwater and China's Zijin Mining Group, Reuters previously reported.

So what happens now? The sale process of Lubambe requires approval from the Zambian government, which holds a 20% stake in Lubambe through state firm ZCCM Investment Holdings. The government’s opinion on JHCX Mining’s offer — and IRH’s interest — is currently pending and unclear, leaving the outcome up to the hands of time, Reuters adds, citing the same sources.

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