Press releases, Reports & Disclosures for International Holding Company PJSC

On July 9, 2024, the Market Operations Surveillance Department of the Abu Dhabi Securities Exchange received a disclosure from IHC Subsidiary, Two Point Zero Group LLC, regarding the completion of a Voluntary Tender Offer (VTO). The VTO, initially disclosed on May 31, 2024, involved acquiring a significant minority stake in Elsewedy Electric SAE, a company listed on the Egyptian Exchange (EGX). A total of 427,711,646 shares, representing 19.98% of Elsewedy Electric's issued shares, were tendered in favor of the VTO. The share transfer on the EGX is expected to be completed by July 10, 2024, with settlement anticipated by July 15, 2024. Copies of this disclosure were also sent to the Securities and Commodities Authority in Abu Dhabi.

The International Holding Company (IHC) has successfully integrated an AI-powered entity, Aiden Insight, as a Board Observer. In its first board meeting, Aiden Insight demonstrated its analytical capabilities by dissecting decades of business data, financial reports, and market trends, providing actionable insights and predictive analyses. This helped the IHC Board make informed decisions, manage risks, and identify emerging opportunities. Aiden Insight's contributions were data-driven, offering a comprehensive analysis of the company's financial and operational aspects. The AI's focus on emerging technologies and sustainability practices aligns with IHC's values. The CEO of IHC, Syed Basar Shueb, highlighted that Aiden Insight significantly enriched the board's discussions and provided strategic recommendations for revenue growth and cost optimisation. Aiden Insight's integration marks a new era of AI-enabled corporate governance for IHC.