Abu Dhabi – Mubasher: Multiply Group, a subsidiary of International Holdings Company (IHC), will be listed on the main market of the Abu Dhabi Securities Exchange (ADX), effective 5 December 2021.

With AED 8.16 billion assets, the investment company has entered into a number of acquisitions last year to expand its businesses and diversify its portfolio, according to a press release on Monday.

Multiply Group has acquired stakes in Emirates Driving Company and the US-based digital media platform Firefly and fully owned the integrated communications company Viola.

The CEO and Managing Director of IHC, Syed Basar Shueb, said: "Multiply Group will become the eighth IHC subsidiary to list on the ADX in less than a year, as part of our long-term strategy to widen our shareholder base and pursue new growth opportunities."

Meanwhile, the CEO of Multiply Group, Samia Bouazza, commented: "With the strong growth momentum we are currently witnessing, we are set to continue investing in tech-driven companies that complement our expanding ecosystem and be at the forefront of the next phase of digital transformation."