DUBAI, Nov 29 (Reuters) - Multiply Group, a subsidiary of Abu Dhabi conglomerate International Holding Company (IHC), will list directly on the Abu Dhabi Securities Exchange on Dec. 5, IHC said on Monday.

Direct listings allow companies to list on the stock market without a traditional and more costly initial public offering.

In October, CEO Syed Basar Shueb told Reuters that IHC was planning to offer shares in Multiply, a holding company that invests in tech-focussed businesses, through an IPO.

"Multiply Group had been exploring an IPO and a direct listing and a decision was taken to go for a direct listing," an IHC spokesperson said in an emailed statement to Reuters.

"(This) gives our shareholders immediate access to actively trade their shares without restrictions, superior liquidity and an attractive valuation for growth companies such as ours," the spokesperson said.

Multiply had assets of 8.2 billion dirhams ($2.23 billion) at the end of September, IHC said in a bourse filing on Monday.

"The Group intends to pursue further growth, organically and through scalable acquisitions, focusing on digital innovation in diverse sectors, including automotive, utilities, capital, wellness, and communications," it said.

In October IHC said the planned transaction could value Multiply at 8 to 10 billion dirhams.

Abu Dhabi's ADX bourse has seen a surge of new listings this year, including companies owned by oil giant Abu Dhabi National Oil Co (ADNOC) and state investor Mubadala.

With assets in the fast-growing healthcare and industrial sectors, IHC became Abu Dhabi's most valuable listed company in June after the listing of subsidiary Alpha Dhabi .

IHC, which has a market capitalisation of $75 billion, is chaired by Sheikh Tahnoon bin Zayed Al Nahyan, the United Arab Emirates' national security adviser and a brother of the country's de facto ruler Abu Dhabi Crown Prince Mohammed bin Zayed.

($1 = 3.6727 UAE dirham) (Reporting by Davide Barbuscia; editing by Jason Neely)