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    IHC   AEI000201014

INTERNATIONAL HOLDING COMPANY

(IHC)
  Report
End-of-day quote Abu Dhabi Securities Exchange  -  2022-09-22
358.50 AED   -0.11%
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Abu Dhabi conglomerate IHC seeks takeovers in 'buyers' market'

08/10/2022 | 08:43am EDT

DUBAI, Aug 10 (Reuters) - Abu Dhabi conglomerate International Holding Co (IHC) expects to increase its takeover activity, including in India and Turkey, as global market turbulence has created "a buyers' market," its chief executive told Reuters on Wednesday.

IHC, the most valuable company on the Abu Dhabi bourse with a market capitalisation of around $167 billion, is aiming for publicly-listed companies in growth markets, Syed Basar Shueb said, adding that it was also looking in South America and Indonesia.

"The public domain market has really corrected itself in some of the assets," he said.

"But in the private domain, it is still difficult to negotiate with the owners because they all are still living in a year-old world where the valuations were extremely high. It's not a sellers' market, it's a buyers' market now."

IHC, which straddles sectors from healthcare to real estate to IT and utilities, made 70 acquisitions at a total value of 10 billion dirhams ($2.72 billion) this year.

Its highest profile deals include a 7.3 billion-dirham investment in three of India's Gautam Adani companies in May this year.

Rising interest rates and predictions of a global downturn have made IHC more selective as valuations in private markets do not reflect current market conditions, Shueb said.

He also said the company was seeking sizeable acquisitions, rather than smaller deals, to boost its bottom line, although he did not give an indication of how large.

The company on Monday reported a 137% year-on-year increase in net profit for the first half of the year to 10.35 billion dirhams.

IHC's stock has risen over 120% so far this year to trade at 348 dirhams a share.

The company is chaired by Sheikh Tahnoon bin Zayed Al Nahyan, the United Arab Emirates' national security adviser and a brother of its president, Sheikh Mohammed bin Zayed. (Reporting by Hadeel Al Sayegh; editing by Barbara Lewis)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
ADANI ENTERPRISES LIMITED -1.15% 3673.9 End-of-day quote.115.03%
ADANI PORTS & SPECIAL ECONOMIC ZONE LIMITED -5.16% 866.75 Delayed Quote.25.13%
ADANI POWER LIMITED -4.73% 367.35 Delayed Quote.286.76%
ADANI TRANSMISSION LIMITED -3.28% 3869.7 End-of-day quote.123.31%
INTERNATIONAL HOLDING COMPANY -0.11% 358.5 End-of-day quote.135.86%
US DOLLAR / TURKISH LIRA (USD/TRY) 0.06% 18.4357 Delayed Quote.38.28%
All news about INTERNATIONAL HOLDING COMPANY
09/21IHC's $2.15 billion Nutresa bid boosts shares in Colombian conglomerate GEA's companies
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09/19International Holding Company PJSC acquired 15% stake in Burjeel Holdings .
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08/18Mubadala-backed AI firm G42 sets up $10 billion tech fund
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08/17IHC to Invest Billions in Emerging Markets
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08/11Abu Dhabi's IHC takes $490 mln stake in Turkey's Kalyon
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08/10Abu Dhabi conglomerate IHC seeks takeovers in 'buyers' market'
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08/10MIDEAST STOCKS-Major Gulf bourses trade mixed; Abu Dhabi at record high
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08/09Abu Dhabi's Chimera buys majority of Egypt's Beltone Financial
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08/08International Holding Company PJSC Reports Earnings Results for the Second Quarter and ..
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06/15Turkey's Kalyon in talks with Abu Dhabi's IHC on energy assets -sources
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More news
Financials
Sales 2021 28 562 M 7 776 M 7 776 M
Net income 2021 7 339 M 1 998 M 1 998 M
Net cash 2021 19 842 M 5 402 M 5 402 M
P/E ratio 2021 37,7x
Yield 2021 -
Capitalization 653 B 178 B 178 B
EV / Sales 2020 10,4x
EV / Sales 2021 9,00x
Nbr of Employees -
Free-Float 26,3%
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Technical analysis trends INTERNATIONAL HOLDING COMPANY
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Income Statement Evolution
Managers and Directors
Basar Shueb Chief Executive Officer, Executive Director & MD
Alwyn Dinesh Jhon Crasta Chief Financial Officer
Tahnoun bin Zayed bin Sultan Al-Nahyan Chairman
Mohammed Nasser Saif Howaiden Al-Samshi Independent Non-Executive Director
Sofia Abdellatif lasky Independent Non-Executive Director
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