IHC raises Invictus stake to 40% as it pushes deeper into global trade

The $114 million deal expands IHC’s footprint in global trade, commodities and logistics infrastructure

Syed Basar Shueb, chief executive of IHC, says the company plans to invest up to $24bn over the next nine months. Antonie Robertson / The National

Abu Dhabi’s International Holding Company has raised its stake in Invictus Investment Company to about 40 per cent after spending Dh420 million ($114.4 million) to acquire 196 million shares as part of plans to expand into commodities and supply-chain logistics.

Invictus, which is listed in the UAE capital, has investments in agri-commodities and logistics. Its main hub is in the Emirates and it has offices in Africa, China and the US. In the first half of 2025, it reported a 164 per cent year-on-year jump in earnings before interest, taxes, depreciation, and amortisation (Ebitda) to Dh189.7 million, while revenue climbed 43 per cent to Dh6.1 billion, its strongest half-year performance since listing in 2022.

Syed Basar Shueb, chief executive of IHC, said the additional investment underlined the group's conviction in Invictus’s “expanding role in global trade and supply chain ecosystems”. Invictus is “positioned for exceptional long-term growth”, he added.

The additional investment in Invictus will be put into building “influential positions” in sectors supporting economic infrastructure around the world, the companies said.

Invictus has operations in 65 countries and expanded into 10 new markets in the first half of this year. It also made significant investments in midstream and downstream aspects of agribusiness. More than 60 per cent of assets are held overseas, with the US and India each accounting for about 20 to 25 per cent.

Total equity in Invictus rose to Dh1.3 billion this year, the company said. IHC increased its share in Invictus in a single block transaction, taking its stake to 40 per cent.

Last month, the IHC chief executive told The National in an interview that the company plans to invest up to $24 billion in the next nine months and divest two to three companies as it reconfigures its portfolio across various sectors.

The group, which is the largest-listed company in the UAE, is chaired by Sheikh Tahnoon bin Zayed, Deputy Ruler of Abu Dhabi and National Security Adviser. It is aiming to invest in mining, energy and industrial assets as it expands its global portfolio, Mr Shueb said.

IHC is on course to double its asset base to about Dh800 billion by 2030 from roughly Dh462 billion at the end of the third quarter, driven by its expansion strategy, Mr Shueb said.