NMDC Group, a prominent leader in engineering, procurement, construction, and marine dredging, has recently obtained approval from the Securities and Commodities Authority and the Abu Dhabi Securities Exchange (ADX) for an initial public offering (IPO) of a portion of its NMDC Energy shares. The Group is planning to offer 1.150 billion shares at Dh2.8 per share, aiming to raise Dh3.22 billion from the sale. The subscription period will be available for individual investors in the UAE from August 30 to September 4, 2024, for qualified and professional investors.
Supported by Alpha Dhabi Holding, a rapidly growing investment company in the Middle East and a subsidiary of International Holding Company (IHC), NMDC Group has a strong track record of successful projects with creative and cost-effective solutions. This IPO presents an appealing opportunity for investors looking to engage in NMDC Energy’s promising growth trajectory. As a key player in Abu Dhabi’s development, NMDC Group plays a pivotal role in advancing the UAE’s vision of a modern, progressive landscape and contributing to the local economy.
NMDC Energy, a significant subsidiary of NMDC Group, offers integrated solutions in the energy sector, including engineering, procurement, and construction services. The company operates modern manufacturing facilities in Abu Dhabi, covering 1.3 million square meters. With a backlog valued at approximately Dh54 billion as of June 30, 2024, NMDC Energy has successfully completed over 1,200 strategic projects, including the construction of facilities, installation of pipelines, and submarine cables. The company’s global presence spans across countries like the UAE, Saudi Arabia, Kuwait, India, and Taiwan, with plans for further expansion in Saudi Arabia.
In its recent financial results for the first half of 2024, NMDC Group reported a 79% increase in revenue, reaching approximately Dh12.126 billion, compared to Dh6.765 billion in the same period of the previous year. Net profits also rose by 66% to approximately Dh1.461 billion, up from Dh881 million in the first half of 2023. The Group’s asset value experienced significant growth, reaching approximately Dh28.501 billion during the first half of 2024, up from Dh20.847 billion at the end of 2023, indicating a notable increase.
With over 50 years of global experience, NMDC Energy continues to expand its capabilities and enhance its international portfolio. The company’s commitment to sustainability, environmental conservation, and delivering innovative projects underscores its position as a leading player in the energy sector. Investors looking to capitalize on NMDC Energy’s strong performance and growth prospects can participate in the upcoming IPO, which represents a significant milestone for the NMDC Group and its continued success in the industry.
