Abu Dhabi-based International Holding Company (IHC) has launched the second phase of its share buyback programme, beginning with an initial tranche worth Dh1.8 billion as the company seeks to enhance shareholder value while maintaining flexibility for future growth.
The first tranche commenced on June 12 and will be carried out in accordance with regulations set by the Abu Dhabi Securities Exchange (ADX) and standard market trading rules. The initiative forms part of a broader Dh5 billion share buyback programme approved by shareholders during the company’s Annual General Assembly on March 16.
IHC said the overall programme will be executed through a series of tranches, with share purchases taking place periodically. The initial Dh1.8 billion tranche accounts for approximately 36 per cent of the total authorised buyback value.
The company noted that details regarding future tranches and completed share purchases will be disclosed regularly through the ADX and the company’s official website. International Securities LLC has been appointed to manage and execute the transactions on behalf of IHC.
The announcement comes after a strong start to the year for the diversified investment group. IHC reported one of its strongest quarterly performances, with revenue rising 33.2 per cent year-on-year to Dh31.4 billion. Profit after tax nearly doubled, increasing 98.5 per cent to Dh8.2 billion.
The company attributed its strong financial results to the performance of its diversified portfolio, which spans multiple sectors and markets. IHC has continued to expand its investments across industries including technology, healthcare, infrastructure, real estate and energy.
According to the company, the share buyback programme is part of a wider capital management strategy designed to support efficient allocation of resources while preserving the ability to pursue strategic opportunities. Share buybacks are often viewed as a signal of management’s confidence in a company’s long-term prospects and can help improve shareholder returns by reducing the number of shares in circulation.
Syed Basar Shueb, Chief Executive Officer of IHC, said the company remains focused on disciplined capital allocation following its recent financial performance.
“Following one of our strongest quarters to date, we remain focused on disciplined capital allocation and creating sustainable value for shareholders,” Shueb said.
He added that IHC will continue balancing investments aimed at future expansion with efforts to deliver attractive returns to investors.
The launch of the new buyback tranche highlights the company’s confidence in its financial position as it continues to pursue growth opportunities while rewarding shareholders through its capital management initiatives.
