International Holding Company (IHC), the biggest UAE company by market capitalisation, plans to invest up to $24 billion in the next nine months and divest two to three companies as it reconfigures its portfolio across various sectors.
The Abu Dhabi-listed company, whose board is led by Sheikh Tahnoon bin Zayed, Deputy Ruler of Abu Dhabi and National Security Adviser, aims to invest mainly in mining, energy and industrial ventures to further grow its portfolio globally, its chief executive, Syed Basar Shueb, told The National.
“We have right now somewhere around $10 billion to $12 billion cash, with the divestment we have done in the two assets, Modon, and the other one Pal Cooling,” Mr Shueb said.
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