IHC Announces $1.4 Billion Share Buyback
IHC was founded in 1998, as part of an initiative to diversify and grow non-oil business sectors in the UAE.
International Holding Company (IHC), Abu Dhabi's largest listed firm, revealed plans to repurchase up to $1.36 billion worth of its shares following a remarkable surge in first-quarter profits.[1]
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The company reported a near doubling of net profit for the first three months of the year, soaring to $2.18 billion from $1.16 billion in the same period last year.
IHC, formerly known as International Fish Farming Holding, is chaired by Sheikh Tahnoon bin Zayed Al Nahyan, UAE's national security adviser and brother of UAE President Sheikh Mohammed bin Zayed. Its market capitalization has surged since 2020 to approximately $238.5 billion, surpassing even global alternative asset manager BlackRock in size.
IHC was founded in 1998, as part of an initiative to diversify and grow non-oil business sectors in the UAE.