Abu Dhabi – Mubasher: International Holding Company (IHC) intends to conduct four initial public offerings (IPOs) in 2023, the same number it completed in 2022, Syed Basar Shueb, CEO of IHC, told Reuters.

Shueb pointed out that the company has not assigned banks for the Pure Health’s offering yet, adding that it is considering a possible IPO for International Energy Holding next year.

IHC will likely list 20% of International Technology Holding’s (ITH) shares during the third quarter (Q3) of 2023, according to the CEO. IHC is also considering potential acquisitions by the group of its IT sector holdings.

Moreover, Shueb underlined that ITH was projected to turn over AED 500 million ($136 million) and register $1 billion in assets by Q2.

Pure Health, a subsidiary of the listed Alpha Dhabi Holding, aims to secure over $1 billion in a first-quarter IPO delayed from 2022.

"It will be more than $1 billion, but the size depends on how much we put in the market. I don't think we can go above 10%, otherwise we will pull all the liquidity from market and this will affect the other players," the news portal cited Shueb.

IHC plans 70% further global acquisition deals in 2023 after it had reported a total acquisition value of more than AED 13.50 billion in Q3-22.

The CEO indicated that IHC is negotiating with international banks for long-term financing for planned deals in 2023, which would equal a sizeable ratio of IHC's cash position.

Furthermore, he mentioned that some IHC businesses might eventually issue their own bonds.

"We will have to create some debt on our balance sheet as well so that we can continue investing," Shueb said.

Meanwhile, IHC is mulling two potential investments in India at a value crossing $2 billion, each. This comes after the UAE-based firm invested $2 billion in Adani Group's portfolio last April.

IHC is expected to unveil two international acquisitions, in addition to a purchase deal in the UAE’s hospitality sector before the end of 2022.

The CEO noted: "We are looking at Colombia, and Asia - primarily Indonesia and India - these are the two major markets where we operate."

Last October, IHC Capital Holding, a wholly-owned subsidiary of IHC, acquired a 49.99% stake in Lulo Colombia S.A. with an investment of AED 734 million ($200 million).

In the first nine months (9M) of 2022, the ADX-listed company posted a surge in net profit attributable to the equityholders to AED 10.82 billion, compared to AED 4.72 billion in 9M-21.