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Sammaan Capital to sell billion-dollar stake to Abu Dhabi's biggest listed company

Updated on: Oct 03, 2025 04:48 PM IST

The Sammaan-IHC deal at 18% discount to current share price raises concerns over valuations. Also, IHC can now reconstitute the board of Sammaan Capital.

Sammaan Capital Ltd. has decided to sell a billion-dollar stake to Abu Dhabi's biggest listed company, a move that sent its share price crashing on Friday.

Sheikh Tahnoon bin Zayed Al Nahyan, chairman of International Holding Co. PJSC whose Avenir is buying 43% stake in Sammaan Capital.(Reuters)

International Holding Co. PJSC’s unit Avenir will hold about a 43.5% stake in Sammaan Capital after the deal, according to an exchange filing on Thursday. On Friday, shares of the non-banking financial company fell as much as 6%—the most since July 2025.

The Sammaan-Avenir deal at an 18% discount raises concerns over valuation and potential dilution, Vinit Bolinjkar, head of research at Mumbai-based Ventura Securities, told Bloomberg News.

Sammaan Capital, a mortgagor founded in 2005, has a balance sheet of $8.3 billion (about 75,000 crore) with more than 200 offices catering to 1.4 million customers, according to its investor presentation in August.

Sammaan-IHC Stake Sale Deal

As part of the agreement, Sammaan Capital will issue 33 crore shares and 30.67 crore warrants to Avenir at 139 each. That’s an 18% discount to the last close, though the shares had rallied by a fourth over six straight sessions in the lead up to the deal.

 
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