NMDC Group's IPO of NMDC Energy 14x Oversubscribed by Day Four
NMDC Group P.J.S.C. (ADX: NMDC), a leader in engineering, procurement, construction, and marine dredging, announced that its Initial Public Offering (IPO) for NMDC Energy P.J.S.C. (formerly NPCC) has been oversubscribed 14 times within the first four days of its subscription period. The IPO, offering 1.15 billion shares at AED 2.8 per share, has generated widespread investor interest and will close on Wednesday, 4 September 2024.
NMDC Energy, currently wholly owned by NMDC Group, has a share capital of AED 2.5 billion divided into five billion shares. Backed by Alpha Dhabi Holding, a subsidiary of International Holding Company (IHC), NMDC Energy is positioned for continued success. The company plans to list its shares on the Abu Dhabi Securities Exchange (ADX) on Wednesday, 11 September 2024, marking a key milestone in its growth journey.
The IPO's lead receiving bank and manager is First Abu Dhabi Bank PJSC, with other receiving banks including Abu Dhabi Commercial Bank PJSC, WIO Bank PJSC, and Al Maryah Community Bank LLC. International Securities LLC serves as the placement agent and listing advisor for NMDC Energy. Investors can access the IPO prospectus on the company's website.
