THIS MORNING: IHC is not looking to sell a stake in Aldar + Adnoc eyes expansion abroad through Adnoc Distribution, AIQ
Plus: Islamic banks’ revenues to get a boost from recently launched retail T-sukuk initiative
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Plus: Islamic banks’ revenues to get a boost from recently launched retail T-sukuk initiative
IHC’s net income was up 53% y-o-y in 3Q
The company rebalanced its portfolio to refocus capital to other high-growth sectors
Plus: IHC board signs off on Multiply-Ghitha-2PointZero merger
PLUS: Golden visa for endowment support
The company signed a definitive agreement to acquire the stake in January
The move could trigger an open tender offer to minority shareholders for an additional 26% stake
The Adnoc agreement takes RIQ’s committed premiums to more than USD 1 bn over the coming decade
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