International Holding Company (IHC), one of the most valued listed companies in Abu Dhabi, revealed on Monday that it has recently invested in the anchor book of the Adani Enterprises share offering, and contributed $400 million to Adani Enterprises’ Additional Public Offering (FPO).
International Holding Company (IHC) of Abu Dhabi said on January 30 that it would invest $400 million through its subsidiary Green Transmission Investment Holding RSC Limited in Adani Enterprises’ ongoing Rs 20,000 crore follow-on public offer (FPO).
As of January 30, the second day of the sale, Adani Enterprises’ FPO has received bids for 1.39 million shares out of the total offer size of 45.5 million shares, or a 3 percent subscription.
According to Syed Basar Shueb, Chief Executive Officer of IHC, “Our interest in Adani Group is driven by our confidence and belief in the fundamentals of Adani Enterprises Ltd; we see a great potential for growth from a long-term perspective and additional value to our shareholders.”
IHC said that after all relevant procedures have been completed and regulatory permissions have been received, the deal will be finalized. After investing $2 billion in three environmentally conscious businesses last year, IHC is now making a second investment in the Adani Group.
