NMDC Group – PJSC, a prominent player in engineering, procurement, construction, and marine dredging, revealed on Monday that the initial public offering for 1.15 billion shares in its fully owned subsidiary, NMDC Energy – PJSC, was oversubscribed 14 times by the fourth day of its subscription period following the weekend, and is set to conclude on Wednesday, 4 September 2024. NMDC Group’s shares, which are listed on ADX, surged more than 9 percent to reach their highest point since March on Monday. NMDC Energy (previously known as NPCC) is currently entirely owned by NMDC Group, which has a strong history of revenue growth and is poised for ongoing success, supported by Alpha Dhabi Holding, a division 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. The Offer Shares are accessible to qualified investors at Dh2.8 per share. NMDC Energy plans 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 include 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.