Thursday, June 24, 2021 – 5:35 PM
ABU DHABI, 24th June / WAM/ The “Flava Holding Company”, a subsidiary of the International Holding Company, announced the listing of its ordinary shares through an initial public offering on the Abu Dhabi Securities Exchange, with a paid-up capital of 10 billion dirhams, next Sunday.
The Offering includes the sale of existing shares to individuals and other investors in the UAE as part of the retail trade within the country and to Qualified Institutions and other investors as part of the Qualified Investor Offer.
Founded in 2013, the company operates in 5 main sectors: industries, field healthcare, technology, investments with partners, construction and hospitality.
The company’s investment portfolio, local and international, includes 25 subsidiaries and 40,000 employees working in various fields, including “energy, engineering consultancy, operation and maintenance services, in addition to operating commercial, service, real estate, contracting, mining, industrial investment, as well as dredging, marine construction, forest management, landscaping and animal feed.” and tourism alongside on-site and digital healthcare management and occupational health solutions and health assessment.
Mohammed Thani Murshid Al Rumaithi, Chairman of the Board of Directors of Alpha Abu Dhabi Holding, said that this step was taken to become a public joint stock company and have a positive reflection on our growth plan as a public company and will have a stronger capital structure to invest in additional sectors while expanding commercially, and accelerating growth on the Organic levels through acquisitions.
Sayed Basr Shuaib, CEO and Managing Director of International Holdings, said: “We invested in Alpha Abu Dhabi in early 2021 and used our industry expertise to reorganize, merge and transform it into a leading holding company in the UAE with a particular focus on construction and hospitality.
We have achieved rapid growth and this is evidenced by the 30% jump in first quarter revenue.. Also, having a listing in a major financial market will enhance its already strong platform and reputation.. We are pleased to support its management team to deliver the IPO on the Abu Dhabi Securities Exchange.”
WAM/ Ahmed Al Nuaimi/ Assem Al Khouli