NMDC Group has received the green light from the Securities and Commodities Authority and the Abu Dhabi Securities Exchange (ADX) to proceed with an Initial Public Offering (IPO) for a portion of its NMDC Energy shares.
NMDC plans to offer 1.150 billion shares in its energy business at Dh2.8 per share.
The subscription period opens on Friday, August 30, 2024, for individual investors in the UAE and will remain open until September 4, 2024, for qualified and professional investors.
Supported by Alpha Dhabi Holding, a major investment firm in the Middle East and a subsidiary of International Holding Company (IHC), NMDC Group has a strong history of delivering significant projects with innovative and cost-effective solutions.
NMDC Energy operates modern manufacturing facilities in Abu Dhabi, covering 1.3 million square meters. As of June 30, 2024, NMDC Energy’s backlog was valued at approximately Dh54 billion, covering various sectors and regions.
The company has completed over 1,200 strategic projects, including the construction of 1,360 facilities and the installation of around 8,000 kilometres of pipelines and 2,000 kilometres of submarine cables.
