Media Unit of Abu Dhabi's Multiply Group Takes Aim at Stock Market Launch

Multiply Group,an investment holding company headquartered in Abu Dhabi,is gearing up for an initial public offering (IPO) of its media unit within the next year.This move comes on the heels of the group's impressive first-quarter performance,which saw a significant increase in both net profit and revenue.

The group,which debuted on the Abu Dhabi Securities Exchange (ADX) in late 2021,boasts a diversified portfolio encompassing eight subsidiaries across five countries.Verticals within Multiply Group focus on high-growth sectors including mobility,energy and utilities,media and communications,and beauty and wellness.The company's total assets reached Dh39 billion by the end of the first quarter of 2024.

While reporting the positive financial results,Multiply Group CEO and Managing Director,Samia Bouazza,highlighted the company's commitment to achieving strong growth across existing ventures while strategically incorporating high-value acquisitions.Recent acquisitions such as Media 247 and BackLite Media have bolstered the media unit,making it a prime candidate for a public offering.

The group's media unit is expected to benefit from the consolidation of these assets,allowing it to offer a more comprehensive media solution to businesses.This includes not only traditional media channels but also a growing presence in the digital out-of-home (DOOH) advertising space.Multiply Group's strategic purchases position the media unit to become a leading force in the regional media landscape.

The decision to pursue an IPO underscores Multiply Group's confidence in the media unit's potential for future growth.By tapping into the public market,the group can raise capital to fuel further expansion and solidify the media unit's market share.The success of the IPO will likely be influenced by a number of factors,including the overall health of the regional and global economies,as well as investor confidence in the media sector.

Multiply Group's move to launch its media unit on the stock market reflects a broader trend of UAE companies seeking IPOs.This trend is driven by a desire to raise capital for growth initiatives and heighten investor awareness.A successful IPO for Multiply Group's media unit could pave the way for similar offerings from other media companies in the region.

Previous Article Next Article