Abu Dhabi’s IHC Unit Raises $13.1 Billion From Direct Listing

Multiply Group, a subsidiary of Abu Dhabi’s International Holding Company, raised 48 billion Dirhams ($13.1 billion) in a direct share listing.

Shares in the tech-focused holding company surged following the listing, closing at 2 dirhams apiece Sunday, 80% higher than the launch price of 1.11 Dirhams.