Investment platform 2PointZero to be listed on ADX by end of year, CEO says

Company aims to expand in Asia, Latina America and Africa amid new opportunities, Investopia conference told

Mariam Al Mheiri, group chief executive of 2PointZero, says the company is looking to expand its operations globally. Victor Besa / The National

Abu Dhabi-based investment platform 2PointZero aims to list its shares on the Abu Dhabi Securities Exchange by the end of this year amid the continued momentum for initial public offerings in the UAE.

The company “is extremely welcoming of partnerships across the globe, and aims to expand in Asia, Latina America and Africa,” group chief executive Mariam Al Mheiri told the Investopia conference in the UAE capital on Wednesday.

She did not provide details of the total size of the planned offering or how much 2PointZero aims to raise through the transaction.

Abu Dhabi's International Holding Company set up last year 2PointZero year with a total asset base of Dh100 billion ($27.2 billion).

Companies under 2PointZero include private investment firm Chimera as well as its subsidiaries Lunate and Beltone.

International Resources Holding, which is focused on energy transition minerals, Sagasse Investments, which had total assets of Dh8 billion as of 2023 and Citadel Technologies, which operates a crypto mining plant in Abu Dhabi and specialises in Bitcoin extraction, are among other businesses in the new holding company.

Earlier this month, 2PointZero bought Cairo-based digital financial service provider Maseera Holding and revealed plans to invest up to $1 billion over the next few years to support its expansion.

Last year, IRH completed the acquisition of Mopani Copper Mines in Zambia, to expand its operations in the mining sector, with the value of the deal resting at $1.1 billion.

Ms Al Mheiri said the Zambia mine is delivering about 100,000 tonnes of copper, with a plan to increase output to 220,000 tonnes.

"IRH is a fully integrated mining company, exploration, mining all the way up to trading. So it's not just buying assets in the mining sector, but actually operating," she said.

The listing plans come as IPO momentum continues in the Middle East, with the region's economies moving ahead with their diversification strategies.

Last year, a number of companies listed their shares on regional stock markets including food delivery platform Talabat Holding, Lulu Group, Oman's oil and gas company OQEP, ADNH Catering, a unit of Abu Dhabi National Hotels, NMDC Energy, a unit of Abu Dhabi contractor National Marine Dredging Company, and Alef Education, among others.

On Wednesday, UAE technology company Alpha Data said it raised Dh600 million from its IPO on the ADX.