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Abu Dhabi’s USD 239 bn International Holding Company has set up 2PointZero, a holding company that will hold some AED 100 bn (USD 27 bn) of assets, according to a press release (pdf). 2PointZero will house companies across segments including financial services, investment banking, technology and AI, mining and resource management, and digital and crypto ecosystem.
Portfolio companies: Chimera Investment, private-markets focused firm Lunate, crypto mining player Citadel Technologies, Middle-East focused Sagasse Investments, Egypt’s Beltone Financial Holding, as well as Abu Dhabi’s International Resources Holding.
Ownership breakdown: IHC will hold 87% of 2PointZero, with the remaining 13% ownership remaining undisclosed, Reuters reports. Assets for the new entity will originate from IHC’s 61% shareholder, Sheikh Tahnoon’s Royal Group, Reuters reported.
Market reax: Shares of IHC, the country’s most valuable listed company, surged 3.47% to settle at AED 414 on yesterday’s close, according to ADX data.
