Multiply Group, an investment holding company based in Abu Dhabi with global operations, announced on Monday that its shareholders have approved the acquisitions of 2PointZero Holding RSC Limited and Ghitha Holding PJSC via share-swap transactions. These acquisitions align with Multiply Group’s strategy to scale operations, enhance portfolio synergies, and drive sustainable long-term growth.
With shareholder approval, Multiply Group will issue 23.36 billion new shares, raising its share capital from Dh2.8 billion to Dh8.64 billion to finalize the deals. The approved resolutions also involve amending the company’s articles of association, rebranding to Two Point Zero Group PJSC, and increasing the number of board members from five to nine.
This shareholder approval is a significant milestone in Multiply Group’s quest to establish a diversified and balanced investment platform in the region. The integration of Multiply Group, 2PointZero, and Ghitha Holding creates a robust, globally competitive platform focused on Energy and Consumer sectors, supported by a substantial alternative investment division.
Syed Basar Shueb, Chairman of Multiply Group, stated: “Today’s shareholder approval signifies trust in Multiply Group’s strategic path and our dedication to long-term value creation. The acquisitions of 2PointZero and Ghitha bolster our platform and enhance our ability to seize opportunities in transformative sectors.”
The GAM also granted the Company’s Board of Directors the authority to execute all necessary actions for implementing the approved resolutions, including completing share-swap procedures, amending the Company’s Articles of Association, and listing new shares on the Abu Dhabi Securities Exchange (ADX) pending regulatory approvals.
