Daily Archives: September 2, 2024

Business & Investments

NMDC Group’s IPO of NMDC Energy 14x oversubscribed within Day 4

  • NMDC Group offering 1.15 billion shares in NMDC Energy at AED 2.8 per share
  • IPO continues to receive widespread interest from investors for fourth consecutive day and following the weekend
  • Subscription period closes on Wednesday, 4 September 2024
  • Intention to list NMDC Energy (formerly NPCC) on ADX on Wednesday, 11 September 2024

Abu Dhabi, UAE: 02 September 2024 – 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.

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du announces strategic partnership with the International Government Communication Forum in Sharjah

du’s participation in the IGCF reflects a shared vision of fostering societal development and global collaboration by embracing innovative communication practices and addressing contemporary challenges

Dubai, UAE, 2 September 2024: du, from Emirates Integrated Telecommunications Company (EITC), today announced its participation in the International Government Communication Forum (IGCF), hosted by the Sharjah Government Media Bureau in line with du’s commitment to fostering initiatives that elevate communication standards and cultural richness within the UAE.

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Business & Investments

PayerMax to Present Innovative Digital Payment Solutions at 24 Fintech 2024

PayerMax’s Partner, COO, Essay Zhu, will attend a discussion on how PayerMax is leading the future payment solutions inline with evolving preferences of global consumers and demands of Saudi consumers

Riyadh, Saudi Arabia 2 September 2024 : PayerMax, a leading global provider of payment solutions, today announced its participation in the 24th Fintech event to showcase its unique position in bolstering the digital economy of the Kingdom, in line with the Saudi Vision 2030. Slated for September 3-5, 2024, at the Riyadh Front Exhibition and Conference Center, PayerMax’s participation will emphasize their alignment with the Kingdom’s digital aspirations and their contribution to the burgeoning market potential for digital transactions in Saudi Arabia.

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SGMB Director General Allay reviews final preparations at Expo Centre Sharjah

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IGCF 2024 set to welcome over 250 global communication experts and leaders on 4-5 September

Sharjah, September 02, 2024

During his visit to Expo Centre Sharjah to oversee the final preparations for the 13th edition of the International Government Communication Forum (IGCF 2024), scheduled for 4-5 September, His Excellency Tariq Saeed Allay, Director General of the Sharjah Government Media Bureau (SGMB), highlighted the forum’s pivotal role in reinforcing Sharjah’s position as a preferred destination for hosting and organising international events. He also engaged in discussions with the directors of SGMB and the event organisers to review the latest developments and ensure all preparations are on track.

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Business & Investments

ADIB Achieves AA ESG Rating Upgrade from MSCI

ADIB has received an MSCI ESG Rating of AA in 2024, up from A in 2023, making it the only bank in the GCC region to achieve this rating in 2024 as of date

Abu Dhabi, UAE: 2 September 2024: Abu Dhabi Islamic Bank, a leading Islamic financial institution, has received an upgrade in its Environmental, Social, and Governance (ESG) rating from MSCI, a leading global provider of ESG indexes. ADIB’s rating has been elevated to AA (on a scale of AAA-CCC) from A in the annual MSCI update.

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