Abu Dhabi – Mubasher: National Marine Dredging Company (NMDC) has received approval from the Securities and Commodities Authority (SCA) and the Abu Dhabi Securities Exchange (ADX) to proceed with an Initial Public Offering (IPO) of a portion of its NMDC Energy shares.
The group is set to offer 1.15 billion shares at AED 2.80 per share, according to a press release.
The subscription period will open on 30 August 2024 for individual investors in the UAE and will remain open until 4 September 2024 for qualified and professional investors.
This IPO marks an attractive opportunity for investors to engage in NMDC Energy's growth trajectory.
As a driving force behind Abu Dhabi's development, NMDC Group plays a crucial role in advancing the UAE’s vision of a modern, progressive landscape and boosting the local economy.
Leading the way in engineering, procurement, and construction, NMDC Group delivers advanced and high-impact projects that propel regional economic growth.
Earlier in June, NMDC Energy teamed up with Technip Energies for a $5.50 billion contract by ADNOC.
Backed by Alpha Dhabi Holding, a subsidiary of International Holding Company (IHC), NMDC Group has a strong track record of delivering major projects with innovative and cost-effective solutions.
In its recent financial results for the first half (H1) of 2024, NMDC Group reported a 79% increase in revenue, reaching approximately AED 12.12 billion, compared to AED 6.76 billion in H1-23.
