iPhone | iPad
Android
Huawei
The total number of Chinese visitors to the UAE stood at around 1.2 million in 2023
KT APPDOWNLOAD
NMDC Energy IPO 14 times oversubscribed within day 4
NMDC Group offering 1.15 billion shares in NMDC Energy at Dh2.8 per share
NMDC Group – PJSC, a leader in engineering, procurement, construction, and marine dredging, announced on Monday that the initial public offering for 1.15 billion shares in its wholly owned subsidiary, NMDC Energy – PJSC has been oversubscribed 14 times by day four of its subscription period following the weekend, and will close on Wednesday, 4 September 2024.
NMDC Group’s shares, listed on ADX, have jumped more than 9 per cent to its highest level since March on Monday.
NMDC Energy (formerly NPCC) is currently wholly owned by NMDC Group, which boasts a solid track record achieved through robust revenue growth and is positioned for continued success backed by Alpha Dhabi Holding, a subsidiary of International Holding Company (IHC). NMDC Energy has a share capital of Dh2.5 billion divided into five billion shares with a nominal value of Dh0.5 each. Offer Shares are available to eligible investors at Dh2.8 per share. NMDC Energy intends to list its shares on the Abu Dhabi Securities Exchange on September 11.
The lead receiving bank and lead manager for the IPO is First Abu Dhabi Bank PJSC. Other receiving banks for the IPO are Abu Dhabi Commercial Bank PJSC, WIO Bank PJSC, and Al Maryah Community Bank LLC. The placement agent for the IPO and listing advisor for NMDC Energy is International Securities LLC.
More news from Business
Companies had select sellers which hurt smaller players, reports find
The CBUAE explained that banks' capital and reserves do not include subordinated borrowings/deposits, but do include the current year's profits
Common queries highlight a broader need for clarity and understanding
Northern emirate has announced several investor-friendly measures
Asset managers, banks and family offices have increased their presence in the UAE in recent years, driven by a post-pandemic economic rebound
Ties between the world's two most populous nations have been strained
Payouts jumped to a record $606.1 billion in the second quarter