Sammaan Capital (SCL) has become a part of the IHC Group company after a preferential allotment of equity shares and warrants to Avenir Investment RSC, an affiliate of IHC.
The Abu Dhabi-based conglomerate International Holding Company PJSC (IHC) has acquired a 41.5% stake in the company following the deal.
Following the transaction, IHC will be classified as the promoter of Sammaan Capital, taking on strategic control and long-term stewardship of the company.
Sammaan Capital eyes stronger credit profile with IHC support
IHC is among the world’s largest investment firms with a market capitalisation of AED 876 billion ($239 billion). With IHC’s entry, Sammaan Capital expects to gain access to strong capital support, global funding networks, and institutional relationships.
The company said this backing will enhance its financial flexibility and support its growth ambitions. “As an IHC Group Company, Sammaan Capital will leverage the strong AA sovereign credit rating of the United Arab Emirates to strengthen its domestic and international credit ratings,” Samman Capital said in its regulatory filing.
The company said the improved credit profile and equity infusion should help lower its cost of funds and provide access to larger and longer-tenure capital pools.
Company plans NCD buyback
As part of its liability management strategy, Sammaan Capital has initiated steps to optimise its debt structure. The Asset Liability Management Committee (ALCO) has approved an offer to acquire the company’s outstanding non-convertible debentures (NCDs).
The company has invited eligible NCD holders to tender their securities at par through the exchange, using surplus liquidity to streamline its liabilities.
Focus on lowering borrowing costs
Sammaan Capital said this move marks the beginning of a structured liability management programme aimed at rebalancing obligations, improving maturity alignment, and benefiting from a declining cost of funds. “The Company hereby invites holders of the ISINs specified in the Annexure below to tender their NCDs at par through the exchange, utilising surplus liquidity to optimise its liability profile,” Samman Capital said.
The company added that the programme will remain dynamic and scalable. Based on investor response, it may extend the buyback to longer-dated maturities to further strengthen its liability profile and reduce borrowing costs.
All NCDs acquired under the programme will be held as treasury stock until maturity. Investors who wish to participate in the offer can initiate the process by writing to the company before April 15.