IHC said on Monday that the change affects the legal ownership chain but does not alter its ultimate beneficial ownership, operations, strategy or business activities. Royal Group continues to exist and operate within the structure, while IHC remains governed by its board and managed by its executive team.
Under the structure outlined by the company, Pal Group of Companies remains IHC’s majority shareholder, Royal Group remains the majority shareholder of Pal Group, and Fount Trust sits above Royal Group as the ultimate parent. IHC did not identify the person or people who ultimately own or control the company.
Chief executive Syed Basar Shueb said the arrangement was intended to provide a durable framework for stewardship over the long term. “Our responsibility is to build an institution capable of creating value over generations,” he said. “That requires clear responsibilities and an ownership framework that can endure as people and circumstances change.”
Shueb said the establishment of Fount Trust provided a framework for long-term stewardship while allowing Royal Group to continue operating and fulfilling its role within the ownership structure.
The clarification brings IHC’s public description of its ownership into line with financial statements already filed by the Abu Dhabi-listed group. Its unaudited interim accounts for the six months ended June 30, approved by the board on August 5, identify Fount Trust as the company’s ultimate parent.
Several businesses within the wider group have also named Fount Trust as their ultimate parent in financial disclosures. Palms Sports and Emirates Stallions Group used that designation in their 2025 accounts, while other group filings have carried the same ownership reference.
IHC said the restructuring was designed to support continuity of ownership across generations without changing the ultimate beneficial owner. It said an enduring framework could support patient investment, long-term partnerships and the development of capabilities while keeping ownership interests aligned.
The company remains listed on the Abu Dhabi Securities Exchange and continues to be subject to the exchange’s reporting, disclosure and corporate-governance requirements. Sheikh Tahnoon bin Zayed Al Nahyan, Deputy Ruler of Abu Dhabi and the UAE’s National Security Adviser, remains IHC’s chairman.
The ownership clarification comes as IHC continues to expand a portfolio spanning technology, infrastructure, financial services, property, food, healthcare and other sectors. The group has more than 1,300 subsidiaries and a market capitalisation of about Dh840 billion, placing it among the largest listed companies in the Middle East.
Its scale has continued to grow this year. IHC reported revenue of Dh64.9 billion for the first half of 2026, up 34.5 per cent from the corresponding period a year earlier, while profit after tax reached Dh26.2 billion. The company said its performance reflected growth across operating businesses and investment activities.
The group has also continued deploying capital internationally and across strategic sectors. During 2026 it announced transactions and partnerships involving financial services, space technology, industrial projects and digital infrastructure, while maintaining what it describes as a strategy of disciplined capital allocation and active portfolio management.
IHC’s June interim financial statements show that Fount Trust is treated as the ultimate parent for accounting purposes. The statements also note that the group and its ultimate parent fall within the scope of global minimum-tax rules because consolidated revenue exceeds the €750 million threshold relevant to multinational groups.
A shareholder disclosure dated September 30, 2025, showed Pal Group of Companies holding 48.56 per cent of IHC directly and Royal Group Companies Management holding another 12.64 per cent. Corporate investors in the UAE accounted for 26.72 per cent, while foreign corporate investors held 11.38 per cent. IHC reported free float of 38.8 per cent at that date.
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