• Retail tranche oversubscribed 600 times, Professional tranche 16.7 times
• ADX trading due to commence on Wednesday, 11 September 2024

Abu Dhabi, UAE: 5 September 2024 – NMDC Group, a leader in engineering, procurement, construction, and marine dredging, today announces the successful closing of the Initial Public Offering (“IPO” or “Offering”) of NMDC Energy, which was oversubscribed by 31.3 excluding cornerstone. The offering attracted exceptional investor interest, generating total gross demand of AED 88 billion.

The offering of 1.15 billion shares in NMDC Energy, representing 23% of the total share capital, was made available to eligible investors at AED 2.8 per share. The IPO saw outstanding demand across all segments, becoming oversubscribed within hours of its launch on 30 August 2024. At the close of the subscription period, the Retail tranche was oversubscribed 600 times, and the Professional tranche by 16.7 times. The offering will generate AED 3.22 billion for NMDC Group.

Continue reading NMDC Group’s IPO of NMDC Energy closes 31.3 times oversubscribed, generating total gross demand of AED 88 billion →