Abu Dhabi – Mubasher: International Holding Company (IHC) has established a next-generation holding firm 2PointZero, according to a press release.

Several sectors were integrated with business combinations of entities under common control to form 2PointZero, boasting an asset size that is expected to exceed AED 100 billion.

Meanwhile, the transfer process will be completed after obtaining all regulatory approvals.

The Chairman of IHC, Tahnoon bin Zayed Al Nahyan, said: “Our vision transcends boundaries, and our mission is to build sustainable ecosystems that empower communities, cultivate technological excellence, and ensure financial resilience.”

Syed Basar Shueb, CEO of IHC, commented: "By harnessing our expertise and acumen across these industry verticals and operating at an unprecedented scale, 2PointZero is poised to create a transformative impact on the world."

In the first nine months (9M) of 2023, the ADX-listed firm logged net profits valued at AED 15.22 billion, lower than AED 24.27 billion a year earlier.

Revenues increased to AED 42.82 billion in January-September 2023 from AED 34.31 billion in 9M-22, while the earnings per share (EPS) went down to AED 5.16 from AED 5.95.