NMDC Group’s IPO of NMDC Energy oversubscribed within hours of Day 1

• NMDC Group offering 1.15 billion shares in NMDC Energy at AED 2.8 per share
• Subscription period closes on Wednesday, 4 September 2024
• Intention to list NMDC Energy (formerly NPCC) on the ADX on Wednesday, 11 September 2024

Abu Dhabi, UAE: 30 August 2024 –  NMDC Group – P.J.S.C. (ADX: NMDC), a leader in engineering, procurement, construction, and marine dredging, announced today that the Initial Public Offering (“IPO” or “Offering”) for 1.15 billion shares (“Offer Shares”) in its wholly owned subsidiary, NMDC Energy – P.J.S.C. (“NMDC Energy”) has been oversubscribed within hours of the first day of its subscription period.

NMDC Energy (formerly NPCC) is currently wholly owned by NMDC Group, boasting a solid track record achieved through robust revenue growth, which is backed by IHC unit Alpha Dhabi Holding. NMDC Energy has a share capital of AED 2.5 billion divided into five billion shares with a nominal value of AED 0.5 each. Offer Shares are available to eligible investors at AED 2.8 per share. The subscription period will close on Wednesday, 4 September 2024. NMDC Energy intends to list its shares on the Abu Dhabi Securities Exchange (“ADX”) on Wednesday, 11 September 2024.

Yasser Zaghloul, Group CEO of NMDC, said: “Strong early investor interest in the NMDC Energy IPO sends a clear message about confidence in both the solid fundamentals and significant growth potential of the business. This IPO will support the expansion of NMDC Energy, accelerate innovation and deliver long-term value to shareholders.”

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. The prospectus prepared by NMDC Energy in relation to the initial public offering is available on the website of the Company at: https://nmdc-energy.com/en/ipo