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Surge in direct deals involving IHC on ADX

On Thursday, ADX data showed 11.159 million shares of the firm were traded for $108.78 per share.

On Thursday, ADX data showed 11.159 million shares of the firm were traded for $108.78 per share.

High-Volume Trades Unveiled

Abu Dhabi Securities Exchange (ADX) witnessed a flurry of 44 substantial direct deal trades linked to International Holding Company (IHC), the UAE’s largest publicly-listed entity. 

These trades involved a significant volume of 11.159 million stocks, amounting to AED4.458 billion ($1.21 billion), transacted at a rate of AED399.5 ($108.78) per share, as per ADX data.

Financial Insights from IHC

IHC’s financial report from the previous month revealed a substantial 14% annual increase in three-month revenue, reaching approximately AED14.15 billion ($3.85 billion) by the end of September. 

Despite this surge in revenue, the net profit experienced a slight downturn, standing at AED4.13 billion ($1.12 billion) in comparison to the previous year’s AED6.41 billion within the same period.

The surge in direct deals on ADX involving IHC reflects heightened market activity and investor interest in one of the UAE’s major public entities. 

Despite a marginal dip in net profits, the robust revenue growth underscores the company’s strong market presence and ongoing financial performance.

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