2PointZero plans ADX listing as UAE IPO momentum grows

Abu Dhabi-based investment platform 2PointZero plans to list its shares on the Abu Dhabi Securities Exchange (ADX) by the end of this year, capitalizing on the UAE’s ongoing IPO surge.

The company is actively seeking global partnerships and aims to expand into Asia, Latin America, and Africa, group CEO Mariam Al Mheiri said at the Investopia conference in Abu Dhabi. She did not disclose the size of the planned offering or how much the company aims to raise.

Founded last year by Abu Dhabi’s International Holding Company (IHC), 2PointZero manages Dh100 billion ($27.2 billion) in assets. It oversees private investment firm Chimera and its subsidiaries Lunate and Beltone, along with several other businesses.

Among its holdings, International Resources Holding (IRH) focuses on energy transition minerals, while Sagasse Investments had Dh8 billion in assets as of 2023. Citadel Technologies, which operates a Bitcoin mining plant in Abu Dhabi, specializes in crypto extraction.

IRH has been actively expanding, acquiring Cairo-based digital financial services provider Maseera Holding earlier this month and committing up to $1 billion for future investments. Last year, IRH completed the $1.1 billion acquisition of Mopani Copper Mines in Zambia, with plans to boost copper output from 100,000 to 220,000 tonnes.

Al Mheiri emphasized IRH's fully integrated mining approach, covering exploration, mining, and trading. "It's not just about acquiring assets but actively operating them," she said.

The IPO push comes as Middle Eastern markets continue to see strong listing activity, with regional economies advancing their diversification strategies. Recent listings include Talabat Holding, Lulu Group, Oman's OQEP, ADNH Catering, NMDC Energy, and Alef Education.

On Wednesday, UAE tech firm Alpha Data announced it raised Dh600 million ($163 million) from its IPO on ADX, reinforcing investor confidence in the region’s equity markets.