NMDC Group – P.J.S.C. (ADX: NMDC), a leader in engineering, procurement, construction, and marine dredging, announced today that the Initial Public Offering (“IPO” or “Offering”) for 1.15 billion shares (“Offer Shares”) in its wholly owned subsidiary, NMDC Energy – P.J.S.C. (“NMDC Energy”) has been oversubscribed 14 times by day four of its subscription period following the weekend, and will close on Wednesday, 4 September 2024. NMDC Group’s shares, listed on ADX, have jumped more than 9 percent to its highest level since March today.
NMDC Energy (formerly NPCC) is currently wholly owned by NMDC Group, which boasts a solid track record achieved through robust revenue growth and is positioned for continued success backed by Alpha Dhabi Holding, a subsidiary of International Holding Company (IHC). NMDC Energy has a share capital of AED 2.5 billion divided into five billion shares with a nominal value of AED 0.5 each. Offer Shares are available to eligible investors at AED 2.8 per share. NMDC Energy intends to list its shares on the Abu Dhabi Securities Exchange (“ADX”) on Wednesday, 11 September 2024, marking a significant milestone in its growth journey.
The lead receiving bank and lead manager for the IPO is First Abu Dhabi Bank PJSC. Other receiving banks
for the IPO are Abu Dhabi Commercial Bank PJSC, WIO Bank PJSC, and Al Maryah Community Bank LLC. The placement agent for the IPO and listing advisor for NMDC Energy is International Securities LLC. The prospectus prepared by NMDC Energy in relation to the initial public offering is available on the website of the Company at: https://nmdc-energy.com/en/ipo
