Alpha Dhabi’s NMDC holding just got a little bigger: ADQ-backed AD Ports Group sold its entire 9.77% stake — or 82.5 mn shares — in National Marine Dredging Company (NMDC) to its majority owner, IHC subsidiary Alpha Dhabi, in an AED 1.6 bn (USD 436 mn) block trade, according to two separate bourse disclosures (here, pdf and here, pdf) published last week. The sale brings Alpha Dhabi’s holding in NMDC to 76.68%. The transaction has already been finalized.

The sale generated a 17% total shareholder return over the three years during which it held the stake, based on dividends and capital gains relative to its 3Q 2025 book value. The port operator acquired the stake from ADQ before NMDC’s IPO in 2022.

This is AD Ports’ third divestment this year. The sale is part of the firm’s ongoing plan to offload non-core assets and recycle capital into higher-return projects. The firm sold plots of land in Kezad to Mira Developments for AED 2.5 bn and two logistics warehouses to Aldar Properties for AED 570 mn.

ICYMI- AD Ports acquired PIF-owned Saudi Egyptian Investment Company’s entire 19.33% stake in Alexandria Container and Cargo Handling Company in a transaction valued at EGP 13.24 bn last month.

NMDC in a nutshell: The ADX-listed engineering and marine EPC group reported a 26% y-o-y rise in net income to AED 2.8 bn in 9M 2025, with revenue up 11% to AED 20.5 bn. Its backlog stood at AED 62.3 bn as of September.

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