Page 86 - ALEF EDUCATION PR REPORT SEPTEMBER 2024

demand across all segments, becoming oversubscribed within hours of its launch on August 30. 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 Dh3.22 billion for NMDC Group.
Yasser Zaghloul, group CEO of NMDC, said: “This IPO isn’t just a financial milestone — it’s a bold
statement about who we are and where we’re going. The unprecedented interest we received
underscores the market’s trust in NMDC Group’s ability to lead the industries of the future. We are
at the forefront of a new era, and this marks the beginning of something extraordinary. With this
step, we are building a legacy that goes beyond profits; it’s about sustainable growth, technological
innovation, and pushing the boundaries of what’s possible in the energy sector. The future will see
NMDC Energy pioneering solutions that power industries and inspire and uplift communities both
regionally and globally. As we enter this next phase, I am more confident than ever that NMDC
Energy will continue to set new benchmarks and deliver on our promise to drive meaningful
progress for the UAE and the global stage. Our success today is rooted in the dedication and vision
of our shareholders, Board of Directors and every member of NMDC Group.”
Ahmed Al Dhaheri, CEO of NMDC Energy, said: “The immense investor interest in our IPO clearly
demonstrates that the market understands the value and potential of NMDC Energy. Additionally,
this IPO consolidates the UAE’s position as a leader in supplying the world’s energy needs. As we
prepare for a new phase as an ADX-listed company, we will build on this milestone by targeting
organic and inorganic growth, expanding our geographical reach, as well as creating synergies that
drive transformation and innovation across the business.”

NMDC Energy’s constitutive general assembly meeting is scheduled for Monday, September 9, with
trading on the ADX to begin on Wednesday, September 11, subject to the necessary conditions and
approvals. The shares will trade under the symbol NMDCENR.

First Abu Dhabi Bank PJSC acted as lead receiving bank and lead manager for the IPO. Abu Dhabi
Commercial Bank PJSC, WIO Bank PJSC, and Al Maryah Community Bank LLC were other receiving
banks. International Securities LLC was the placement agent and listing advisor. Hadef & Partners
were the legal advisors.

With over 50 years of global experience, NMDC Energy provides integrated solutions in the energy
sector, including engineering, procurement, and construction services. The company operates
modern manufacturing facilities in Abu Dhabi, covering 1.3 million square metres. As of June 30,
2024, NMDC Energy’s backlog were valued at approximately Dh54 billion, spanning diverse sectors
and regions. The company has a diverse international portfolio with a strong presence in the UAE,
Saudi Arabia, Kuwait, India, and Taiwan. To further expand its capabilities, the company is
developing a new 400,000-square-meter manufacturing facility at Ras Al Khair Port in Saudi Arabia.

NMDC Group is backed by Alpha Dhabi Holding, a fast-growing investment company in the Middle
East and a subsidiary of International Holding Company (IHC).

The IPO further demonstrates the strength of the UAE’s equity markets, which have seen notable
activity in 2024, with three new listings, Alef, Parkin, and Spinneys, contributing over Dh20 billion in
market capitalisation, analysts say. "NMDC Energy’s listing on the Abu Dhabi Securities Exchange
(ADX) is expected to enhance market liquidity, attract investors, and bolster the overall appeal of

https://www.khaleejtimes.com/business/markets/nmdc-energy-ipo-31-3-times-oversubscribed