NMDC Group reported a 79% increase in revenue

According to Amac News: In the newsletter of NMDC Group, it is stated that this group is going to offer 1.150 billion shares (1,150,000,000) at a price of 2.8 dirhams per share.
According to the newsletter, the subscription period will be open to individual investors in the UAE from Friday, August 30, 2024, and will be open to qualified and professional investors until September 4, 2024.
Backed by Alpha Dubai Holding, a fast-growing investment company in the Middle East and a subsidiary of International Holding Company (IHC), NMDC Group has a strong track record of delivering large projects with innovative and cost-effective solutions.
This IPO provides an attractive opportunity for investors to participate in the promising growth trajectory of NMDC Energy.
As the driving force behind Abu Dhabi's development, NMDC Group plays an important role in advancing the vision of the UAE from a modern and progressive perspective and strengthening the local economy. The group's extensive expertise with a strong commitment to sustainability and environmental protection enhances infrastructure across the region.
A leader in engineering, procurement and construction, NMDC Group consistently delivers innovative and high-impact projects that drive economic growth in the region.
NMDC Energy, a key subsidiary of NMDC Group, provides integrated solutions in the energy sector, including engineering, procurement and construction services.
The company operates modern production facilities in Abu Dhabi with an area of 1.3 million square meters. As of June 30, 2024, NMDC's energy reserves were valued at approximately AED 54 billion, spanning various sectors and regions.
This company has successfully implemented more than 1,200 strategic projects, including the construction of more than 1,360 facilities and the installation of about 8,000 km of land and sea pipelines and 2,000 km of submarine cables.
With over 50 years of global experience, NMDC Energy has a diversified 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 in Ras Al Khair port in Saudi Arabia.
In its recent financial results for the first half of 2024, NMDC Group reported a 79% increase in revenue to about 12.126 billion dirhams, compared to 6.765 billion dirhams in the first half of 2023. Net profit increased by 66% to approx. 1.461 billion dirhams, from 881 million dirhams in the same period last year.
The group's asset value also grew significantly and reached around 28.501 billion dirhams in the first half of 2024, which was an increase of 7.654 billion dirhams from 20.847 billion dirhams at the end of 2023.