Abu Dhabi – Mubasher: Al Seer Marine, a subsidiary of International Holding Company (IHC), has invested AED 1.2 billion in Abu Dhabi Ports Group ahead of its initial public offering (IPO).

Al Seer will own 375 million equity shares, representing 7.36% of Abu Dhabi Ports, which will list on the Abu Dhabi Securities Exchange (ADX) on Tuesday, according to a press release.

The CEO of Al Seer Marine, Guy Neivens, commented: "The port is an economic driver, not only in UAE but across the region. Our participation highlights our confidence in Abu Dhabi Ports Group IPO and sets a benchmark for the investor community at large."

It is noteworthy to mention that Abu Dhabi Ports raised AED 4 billion through a primary issuance, ahead of the listing of its shares on the main market of the ADX.

ADQ, an Abu Dhabi-based investment and holding company, is a majority shareholder with a 75.44% stake in the listed entity.