NMDC secures approval for IPO of NMDC Energy Shares ...United Arab Emirates

NMDC Group has received approval from the Securities and Commodities Authority and the Abu Dhabi Securities Exchange (ADX) to proceed with an Initial Public Offering (IPO) of a portion of its NMDC Energy shares. NMDC Energy, a key subsidiary of NMDC Group, provides integrated solutions in the energy sector. The company operates manufacturing facilities in Abu Dhabi, covering 1.3m sqm. The IPO presents an opportunity for investors to engage in NMDC Energy, the firm said. The group is set to offer 1.150 billion shares (one billion one hundred and fifty million shares) at AED 2.8 per share. The subscription period will open on 30 August 2024 for individual investors in the UAE and will remain o

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