NMDC Energy, a company that provides integrated solutions in the energy sector, recently announced the successful closing of its initial public offering (IPO), which attracted significant investor interest. The IPO, which was oversubscribed by 31.3 excluding cornerstone, generated total gross demand of Dh88 billion. The offering of 1.15 billion shares, representing 23% of the total share capital, was made available at Dh2.8 per share. The retail tranche was oversubscribed 600 times, while the professional tranche was oversubscribed by 16.7 times, leading to the generation of Dh3.22 billion for NMDC Group.
Yasser Zaghloul, the group CEO of NMDC, expressed his confidence in the company’s ability to lead the industries of the future. He emphasized NMDC Group’s commitment to sustainable growth, technological innovation, and pushing the boundaries of what’s possible in the energy sector. With the IPO marking a new milestone, NMDC Energy is poised to pioneer solutions that power industries and inspire communities globally. As the company gears up for trading on the Abu Dhabi Securities Exchange (ADX), Ahmed Al Dhaheri, the CEO of NMDC Energy, highlighted plans for organic and inorganic growth, geographical expansion, and innovation across the business.
The constitutive general assembly meeting of NMDC Energy is scheduled for September 9, with trading on the ADX set to begin on September 11. The shares will trade under the symbol NMDCENR. First Abu Dhabi Bank PJSC acted as the lead receiving bank and lead manager for the IPO, with other receiving banks including Abu Dhabi Commercial Bank PJSC, WIO Bank PJSC, and Al Maryah Community Bank LLC. International Securities LLC served as the placement agent and listing advisor, while Hadef & Partners provided legal advice for the IPO.
With over 50 years of global experience, NMDC Energy 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, NMDC Energy has a diverse international portfolio with a strong presence in the UAE, Saudi Arabia, Kuwait, India, and Taiwan. The company is also developing a new 400,000-square-meter manufacturing facility at Ras Al Khair Port in Saudi Arabia to further expand its capabilities.
Supported by Alpha Dhabi Holding, a fast-growing investment company in the Middle East and a subsidiary of International Holding Company, NMDC Group is set to make strides in the energy sector with NMDC Energy. The successful IPO and upcoming listing on the ADX signify a new chapter for the company, showcasing its commitment to sustainable growth, innovation, and global expansion. With a focus on driving meaningful progress for the UAE and beyond, NMDC Energy is positioned to lead the way in powering industries and inspiring communities worldwide.
