Abu Dhabi's ADQ, IHC Propose Wrapping Real Estate, Events Stakes into Q Holding

WAM
WAM
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Abu Dhabi's ADQ, IHC Propose Wrapping Real Estate, Events Stakes into Q Holding

WAM
WAM

Abu Dhabi sovereign wealth fund ADQ and a unit of local conglomerate IHC (IHC.AD) have submitted an offer to wrap their shareholdings in Modon Properties into IHC's Q Holding (QHOLDING.AD).

ADQ will also add its shareholding in Abu Dhabi National Exhibitions Company.

The proposed transaction would create one of the largest real estate, hospitality, events, and catering platforms in the region, ADQ and IHC said in a statement on Wednesday.

In a separate statement on Wednesday, Q Holding confirmed receiving the offer from ADQ and IHC Capital, and said its board will consider the proposed transaction before making any recommendation to shareholders.

The transaction structure would see Q Holding issuing a convertible instrument to ADQ and IHC Capital.

The instrument would convert into approximately 9,491 million ordinary shares in the capital of Q Holding at a price of 2.70 dirhams per share.

The offer implies an equity valuation of approximately 18.5 billion dirhams for Q Holding.

ADQ and IHC Capital would own a respective 38.7% and 19.4% of the entire issued share capital of Q Holding.



Syria Meeting Focused on Need for Credible Economic Data, IMF Chief Says

International Monetary Fund (IMF) managing director Kristalina Georgieva, speaks during a Press Briefing on "International Monetary and Financial Committee (IMFC)" during the IMF/World Bank Group Spring Meetings at the IMF headquarters in Washington, DC, on April 25, 2025. (AFP)
International Monetary Fund (IMF) managing director Kristalina Georgieva, speaks during a Press Briefing on "International Monetary and Financial Committee (IMFC)" during the IMF/World Bank Group Spring Meetings at the IMF headquarters in Washington, DC, on April 25, 2025. (AFP)
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Syria Meeting Focused on Need for Credible Economic Data, IMF Chief Says

International Monetary Fund (IMF) managing director Kristalina Georgieva, speaks during a Press Briefing on "International Monetary and Financial Committee (IMFC)" during the IMF/World Bank Group Spring Meetings at the IMF headquarters in Washington, DC, on April 25, 2025. (AFP)
International Monetary Fund (IMF) managing director Kristalina Georgieva, speaks during a Press Briefing on "International Monetary and Financial Committee (IMFC)" during the IMF/World Bank Group Spring Meetings at the IMF headquarters in Washington, DC, on April 25, 2025. (AFP)

Officials from the International Monetary Fund, World Bank and key countries met with Syrian authorities this week on efforts to rebuild the war-torn country, emphasizing the need for credible data, IMF Managing Director Kristalina Georgieva said on Friday.

Georgieva said rebuilding Syria's central bank and expanding the country's capacity to generate revenue were other key issues addressed during the meeting that took place during the spring meetings of the IMF and World Bank.

Saudi Arabia's Finance Minister Mohammed Al-Jadaan, who chairs the International Monetary and Financial Committee, said he was grateful to the IMF and World Bank for stepping up support for Syria, noting others including Yemen, Palestine and Lebanon would also need help.