International Holding Company (IHC), the most valuable listed holding company in the Middle East with a market cap of AED 892.8 billion ($243.1 billion), announced the launch of its AED 5 billion ($1.36 billion) share buyback programme.
As part of its strategic initiative to enhance shareholder value and optimise capital allocation, the global diversified Abu Dhabi conglomerate said it would begin with an initial tranche of AED 1.8 billion ($490 million), representing 36 per cent of the total programme, on Monday, November 18.
The share buyback programme was approved at IHC’s General Assembly on June 20 and subsequently endorsed by the Board. It will span one year with the possibility of extension pending regulatory approval.
The programme will be executed in tranches on a monthly or quarterly basis, with multiple purchases within each tranche. Each tranche will be disclosed in alignment with ADX’s market transparency requirements.
Syed Basar Shueb, CEO of IHC, commented: “Launching the Share Buyback Programme reaffirms our commitment to generating long-term value for our shareholders. With our robust cash flow and strong balance sheet, we are well-positioned to implement this strategic initiative that reflects our confidence in IHC’s ongoing growth and market potential.
“This programme marks a significant step in optimising our capital structure while strengthening our position as a leader in sustainable value creation and growth.”
The programme also reflects confidence in the group’s financial resilience and sustained growth outlook as IHC continues to strengthen its portfolio and expand its market presence.
International Securities, a licensed brokerage firm and IHC’s appointed financial institution, will exclusively manage and execute the purchases. IHC, which is included in FTSE ADX 15 Index, has a clear objective of enhancing its portfolio through acquisitions, strategic investments, and business combinations. It comprises more than 1,000 subsidiaries and operates in a growing number of sectors, including asset management, healthcare, real estate and construction, marine and dredging, IT and communications, financial services, food production and service and utilities.
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