Page 78 - ALEF EDUCATION PR REPORT SEPTEMBER 2024
P. 78

9/18/24, 1:58 PM                        NMDC Energy soars 20% on debut after UAE’s largest IPO of 2024




            NMDC Energy soars 20                                                on debut


            after UAE’s largest IPO of 2024



















































            RIYADH: The  energy division of NMDC Group experienced a remarkable debut

            as its sha res surged 20 percent after raising 3.22 billion dirhams ($877 million)
            in the  UAE’s largest initial public oering of the year.



            On the  Abu Dha bi Securities Exchange, NMDC Energy’s shares, initially priced
            at 2.8 dirha ms, opened at 3.35 dirhams, re…ecting a signi„cant 20 percent

            increase.


            The  company, whi ch  specializes in engineering, procurement, and construction
            services for both  oshor e and onshore clients, surpassed the previous largest

            IPO of the  year, Alef Education Holding Plc’s $515 million oering.











      about:blank                                                                                                1/2
   73   74   75   76   77   78   79   80   81   82   83