Abu Dhabi's IHC, ADQ and FAB to launch dirham-backed stablecoin
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Zawya
7 hours ago
- Zawya
Abu Dhabi's Etihad Airways may delay $1bln IPO to 2026
Abu Dhabi's Etihad Airways is considering deferring its $1 billion IPO to the first quarter of 2026, allowing the UAE airline to capitalise on its recent partnerships, a source with knowledge of the matter told Zawya. These agreements include a JV with Ethiopia inked in March and another with China Eastern Airlines in April. The carrier has also accelerated its network expansion after the announcement of Wizz Air's decision to cease operations in Abu Dhabi from September 1. 'Etihad has done well signing JVs with partner airlines this year, and it now needs to deliver on these for its investors. While coming to market is not an issue, it just makes better business sense to push the IPO to early 2026,' the source said. Etihad is fully owned by the UAE wealth fund ADQ, and the airline's CEO, Antonoaldo Neves, has maintained that the decision to go public ultimately lies with its shareholder. Zawya reached out to Etihad, but no comment was available at the time of publication. The imposition of US-led tariffs, followed by a sudden flare-up in Middle Eastern tensions, had given markets pause, but Etihad's decision to defer its listing from H1 2025 was largely led by its growth strategy, the source said. 'Etihad is a national airline, with a shareholder that is not value sensitive. It wants to go public when there's a clearer story to map out its growth. You want to bring it [IPO] at the most opportune time, with market conditions that are 100% and will benefit the decision,' two banking sources familiar with the matter said. Growth plan Hungarian low-cost carrier Wizz Air's announcement this month has also created a market gap that could prove to be a lucrative opportunity for Etihad to capitalise on in the immediate months that follow, said analysts. Nishit Lakhotia, Group Head of Research at Bahrain's Sico Bank, said Wizz Air's decision to leave Abu Dhabi is an opportunity for Etihad to leverage its position as a market leader at a time when several airlines in the region have faced turbulence over repeated route cancellations and airport closures stemming from escalating geopolitical tensions. 'The total profitability of regional airlines last year was at record levels, and while some geopolitical challenges did affect Q2, the broader theme remains intact, and an Etihad IPO should ideally be on the cards,' said Lakhotia. Etihad has expanded rapidly after ownership was transferred to ADQ in late 2022, revising its growth target to carry 38 million passengers by the end of the decade, up from the previous goal of 33 million. In May, the airline reported a profit of 685 million UAE dirhams ($186.5 million) for the first quarter of 2025, up 30% year-on-year, driven by strong demand and efficiency gains. Fleet expansion has been a key focus of its $7 billion investment plan. Yet some say market sentiment towards aviation stock remains cautious following the muted performance of Saudi Arabia's budget carrier Flynas in June, as escalating tensions between Iran and Israel led to the closure of several airports and restricted airspace across the region. Despite being one of the biggest IPOs of the region at $1.09 billion, the airline's stock closed over 3% lower on its debut. John Strickland, an aviation analyst and the director of London-based JLS Consulting, observed that while there may be market sensitivity about investing in airlines currently, it would not present a hurdle to future listings in this sector. Strickland sees Etihad's IPO going ahead soon. (Reporting by Bindu Rai, editing by Seban Scaria)
Al Etihad
20 hours ago
- Al Etihad
ADQ completes acquisition of majority stake in Aramex
27 July 2025 20:32 A. SREENIVASA REDDY (ABU DHABI)ADQ, an active sovereign investor focused on critical infrastructure and global supply chains, has completed the acquisition of a majority stake in a statement, ADQ said the voluntary tender offer for Aramex, submitted by its wholly owned indirect subsidiary Q Logistics Holding, has become will now become the majority shareholder in Aramex, with a 63.16% stake when combined with the shareholding held by AD Ports Group, in which ADQ holds a majority latest acquisition is confirmed by the Dubai Financial Market's data shows Q Logistics Holding holds 40.4492%, GeoPost SA 28%, and Abu Dhabi Ports Company 22.69%. The remaining 8.9% is held possibly by retail investors and smaller had initially aimed to acquire 100% of Aramex and potentially delist the company from the Dubai Financial Market. However, it secured voluntary acceptance from only 40.44% of shareholders. An FAQ published at the time of the offer stated, 'If you decide not to participate in the offer, you will be entitled to keep your shares. To the extent the offeror obtains 90% plus 1 share of the total share capital of Aramex, then the offeror is entitled to apply for the compulsory acquisition of the remaining securities held by minority shareholders.' As this threshold was not met, several shareholders, including GeoPost SA, which holds 28%, retained their a subsidiary of France's La Poste, became a shareholder in Aramex in 2021, initially acquiring a 24.9% stake and later increasing it to 28% in 2022, according to information available on Aramex's website.Q Logistics announced its intention to acquire up to 100% of Aramex shares not held by Abu Dhabi Ports on January 13, 2025. The Securities and Commodities Authority approved the offer document on February 9, and Aramex disclosed its receipt to the market the following February 11, Aramex's board reviewed the offer and HSBC's fairness opinion, which deemed the offer financially fair, and recommended that shareholders accept. A formal circular with these details was published on February 13. The offer was priced at Dh3 per share and open for acceptance from February 10 to March March 28, Aramex announced it had received final confirmation from ADQ that Q Logistics had secured acceptances amounting to 40.57%. When combined with the 22.69% held by AD Ports, this brought ADQ's total effective ownership to 63.26%, exceeding the minimum threshold set by SCA's Mergers and Acquisitions Rules. The offer became unconditional on July 22, 2025, following receipt of all regulatory approvals and said Aramex will be integrated into its Transport & Logistics cluster, reinforcing Abu Dhabi's position as a global logistics hub. With operations in over 65 countries and significant warehousing and trucking capacity, Aramex is expected to strengthen ADQ's multimodal logistics platform. ADQ Deputy Group CEO, Mansour AlMulla, said, 'ADQ's majority shareholding in Aramex marks a strategic step toward advancing our vision to build a globally integrated logistics platform anchored in the UAE. Aramex brings strong capabilities and operational depth that complement our existing investments across air, sea, and land infrastructure. Its addition enhances the services layer of the logistics value chain and supports the development of end-to-end trade and supply chain solutions. We believe Aramex is well-positioned to unlock long-term value through greater integration with ADQ's broader portfolio, and we are confident in its ability to deliver sustainable growth.'
Crypto Insight
a day ago
- Crypto Insight
Bitcoin ‘up year' is 2026, and the four-year cycle is dead: Bitwise
Bitcoin's price could see significant upside in 2026, bucking the traditional four-year market cycle, according to Bitwise chief investment officer Matt Hougan. The prediction comes as other analysts are divided on whether Bitcoin will stray from its historical pattern or follow the traditional halving cycle and peak in the coming months. Bitcoin may be in for a 'good few years,' says Hougan 'I bet 2026 is an up year,' Hougan said in an X video on Friday. 'I broadly think we're in for a good few years,' Hougan added. Hougan said the four-year halving cycle 'is dead' for several reasons, including the Bitcoin halving becoming 'half as important' every four years, and the interest rate cycle being positive for crypto. Since April, US President Donald Trump has been publicly pressuring Federal Reserve Chair Jerome Powell to cut interest rates, a potentially bullish catalyst for Bitcoin, as lower rates make traditional assets like bonds and term deposits less appealing to investors. Hougan also said the chances of significant price pullbacks have decreased as the industry gains more clarity on regulations. 'Blow-up risk is attenuated, due to improving regulation and the institutionalization of the space,' Hougan said. He said that given the ongoing regulatory process and the early stage of institutional adoption, Bitcoin likely has more upside in this cycle than historical trends suggests: 'The long-term pro-crypto forces will overwhelm the classic 'four-year cycle' forces, to the extent those exist, and that 2026 will be a good year.' Hougan said the most significant 'cyclical-style risk' for Bitcoin is the rise of Bitcoin treasury companies. 'Bears watching and is significant,' Hougan said. Asset manager VanEck recently echoed the same concern, warning that firms accumulating Bitcoin by issuing new stock or taking on debt are particularly vulnerable. VanEck said these companies might be overextended if Bitcoin's price falls sharply. Bitcoin more likely to see a 'sustained steady boom' However, Hougan forecasted that Bitcoin's price rally will be steady rather than aggressive in the short term. 'I think it's more 'sustained steady boom' than super-cycle,' he said. 'I could be wrong, and I'm certain there will be significant volatility,' he added. It comes only days after CryptoQuant CEO Ki Young Ju said the Bitcoin four-year cycle theory 'is dead.' 'My predictions were based on it — buy when whales accumulate, sell when retail joins. But that pattern no longer holds,' Ju said. 'Last cycle, whales sold to retail. This time, old whales sell to new long-term whales. Institutional adoption is bigger than we thought,' Ju added. However, not everyone says the pattern has changed. Crypto analyst Rekt Capital recently warned that Bitcoin may only have a few months of price expansion left in the cycle, especially if it follows the same historical pattern from 2020. Rekt explained that if the Bitcoin cycle follows the 2020 pattern, the market will likely peak in October, which is 550 days after the Bitcoin halving in April 2024. Source:
