NMDC Group To Launch IPO Of NMDC Energy Shares Following Regulatory Approval

NMDC Group, a prominent player in engineering, procurement, construction, and marine dredging, has announced the approval of its Initial Public Offering (IPO) by the Securities and Commodities Authority and the Abu Dhabi Securities Exchange (ADX). The IPO will involve offering 1.150 billion shares at AED 2.8 per share. Individual investors in the UAE can subscribe from 30th August 2024, while qualified and professional investors have until 4th September 2024.

A key subsidiary of NMDC Group, NMDC Energy provides integrated solutions in the energy sector. It offers engineering, procurement, and construction services through its modern facilities in Abu Dhabi, which span 1.3 million square meters. As of 30th June 2024, NMDC Energy's backlog was valued at approximately AED 54 billion across various sectors and regions.

NMDC Group is backed by Alpha Dhabi Holding, a rapidly growing investment firm in the Middle East and a subsidiary of International Holding Company (IHC). This support underscores NMDC's strong track record of delivering major projects with innovative and cost-effective solutions.

In the first half of 2024, NMDC Group reported a significant increase in revenue by 79 percent to approximately AED12.126 billion compared to AED6.765 billion in the same period last year. Net profits also saw a rise of 66 percent to approximately AED1.461 billion from AED881 million during the same timeframe. The Group’s asset value grew to approximately AED28.501 billion from AED20.847 billion at the end of 2023.

Commitment to Sustainability

NMDC Group plays a vital role in advancing Abu Dhabi's development and supporting the UAE’s vision for a modern landscape. The company is committed to sustainability and environmental conservation while enhancing infrastructure across the region.

With over five decades of global experience, NMDC Energy has built an extensive international portfolio with operations in countries like Saudi Arabia, Kuwait, India, Taiwan, and its home base in the UAE. To further expand its capabilities, NMDC Energy is developing a new manufacturing facility covering 400,000 square meters at Ras Al Khair Port in Saudi Arabia.

The IPO presents an attractive opportunity for investors to participate in NMDC Energy's promising growth trajectory. As a driving force behind regional economic growth, NMDC Group consistently delivers high-impact projects that shape future infrastructure developments.

NMDC Energy has successfully executed over 1,200 strategic projects including constructing more than 1,360 facilities and installing around 8,000 kilometres of onshore and offshore pipelines along with about 2,000 kilometres of submarine cables.

The company's dedication to operational excellence and sustainable practices establishes it as a trusted partner in shaping infrastructure development within the UAE and beyond.

The announcement marks a significant milestone for NMDC Group as it continues to bolster its position as a leader in engineering and construction while contributing to economic growth and sustainability efforts across the region.

With inputs from WAM