Abu Dhabi, UAE: The Initial Public Offering (IPO) of NMDC Energy – P.J.S.C., a wholly-owned subsidiary of NMDC Group – P.J.S.C. (ADX: NMDC), has garnered significant attention, with the offering being oversubscribed by an impressive 14 times within just four days of the subscription period. This strong demand reflects investor confidence in the company’s growth prospects and its strategic positioning in the market. The offering, which consists of 1.15 billion shares, is set to close on Wednesday, September 4, 2024.
Following this surge in interest, NMDC Group’s shares, listed on the Abu Dhabi Securities Exchange (ADX), experienced a remarkable increase of over 9 percent, reaching their highest level since March. This boost is a testament to the positive sentiment surrounding NMDC Energy’s IPO and its potential impact on the group’s overall performance.
NMDC Energy, formerly known as NPCC, is a key player in the engineering, procurement, construction, and marine dredging sectors.
The company, currently fully owned by NMDC Group, has demonstrated a robust track record of revenue growth, positioning it for continued success. This growth is further bolstered by the support of Alpha Dhabi Holding, a subsidiary of the International Holding Company (IHC), a prominent player in the UAE’s investment landscape.
With a share capital of AED 2.5 billion, divided into five billion shares with a nominal value of AED 0.5 each, NMDC Energy is offering shares to eligible investors at a price of AED 2.8 per share. The company’s plans to list its shares on the Abu Dhabi Securities Exchange (ADX) on Wednesday, September 11, 2024, mark a significant milestone in its journey towards becoming a publicly listed entity.
The IPO process is being managed by First Abu Dhabi Bank PJSC, which is serving as the lead receiving bank and lead manager. Additional receiving banks include Abu Dhabi Commercial Bank PJSC, WIO Bank PJSC, and Al Maryah Community Bank LLC. International Securities LLC has been appointed as the placement agent for the IPO and the listing advisor for NMDC Energy.
Investors and stakeholders looking for more information can access the detailed prospectus on the company’s official website: NMDC Energy IPO Prospectus. As the subscription period draws to a close, the market eagerly anticipates NMDC Energy’s debut on the ADX, where it is expected to attract further interest from regional and international investors.
