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Abu Dhabi’s USD 895 bn International Holding Company (IHC) set up a new global finance and trade facilitation holding company dubbed Rorix Holdings, it said in an ADX disclosure (pdf). Rorix Holdings will focus on financial services, trade finance, advisory, commodities, and trade ins.
The game plan: Rorix will “leverage the latest technologies and trade solutions” to facilitate sustainable growth for businesses, aiming to boost trade volumes and attract foreign investment. The company plans to seek partners in the UAE and globally, in sectors spanning trading, financial services, commodities, logistics, and distribution, as the UAE expands its trade agreements with other countries.
What they said: The company will “play a crucial role in realizing the UAE’s vision in facilitating seamless trade across borders and will serve as a crucial enabler for traders, service companies, entrepreneurs, and SMEs seeking new markets,” IHC CEO Syed Basar Shueb said.
This marks IHC’s second new holdco this year: IHC set up 2PointZero earlier in January as a holding company with some AED 100 bn (USD 27 bn) of assets under its umbrella, including 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.
