NMDC Energy begins trading on ADX

According to Amac News: The announcement of NMDC Energy PJSC states that the offering of 1.15 billion shares in NMDC Energy, which constitutes 23% of the total share capital, was made available to qualified investors at a price of AED 2.8 per share.
According to the announcement, the final allocation was approximately 0.17 percent to retail investors and 6 percent to professional investors.
International Securities LLC was the placement agent and listing advisor. First Abu Dhabi Bank PJSC acted as the lead acquiring bank and lead manager for the IPO.
Abu Dhabi Commercial Bank PJSC, WIO Bank PJSC, and Al Maryah Community Bank LLC were the other recipient banks.
For 50 years, NMDC Energy has provided integrated engineering, procurement and construction solutions to the energy sector. The company's manufacturing facility in Abu Dhabi covers an area of 1.3 million square meters and is also developing a new 400,000 square meter manufacturing facility in Ras Al Khair port in Saudi Arabia.
As of June 30, 2024, NMDC Energy's outstanding volume was valued at approximately AED 54 billion with its diversified international portfolio including a strong presence in the UAE, Saudi Arabia, Kuwait, India and Taiwan.
NMDC Group is backed by Alpha Dhabi Holdings, a fast growing investment company in the Middle East and a subsidiary of International Holdings Company (IHC).