{"id":95724,"date":"2024-09-12T00:00:00","date_gmt":"2024-09-12T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/nmdc-energy-shares-jump-20-on-market-debut\/"},"modified":"2024-09-12T00:00:00","modified_gmt":"2024-09-12T00:00:00","slug":"nmdc-energy-shares-jump-20-on-market-debut","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/09\/12\/nmdc-energy-shares-jump-20-on-market-debut\/","title":{"rendered":"NMDC Energy shares jump 20% on market debut"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>NMDC Energy\u2019s shares opened at AED 3.35 on its trading debut on the ADX <\/strong><strong>yesterday<\/strong>, up 20% from the final set price of AED 2.8. Shares closed at AED 3.02, up 7.86%. The IPO raised <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/6fd1f54f-2a08-4db2-bb29-95548d661e52\/%253cmark%253enmdc%253c%2Fmark%253e%253cmark%253e-energy%253c%2Fmark%253e-closes-aed-3.2-bn-ipo-with-31x-oversubscription-rate%3B-shares-start-trading-11-september\" style=\"\" rel=\"noopener\">AED 3.22 bn<\/a> after receiving more than AED 88 bn in orders, with the order book 31x oversubscribed \u2014 excluding cornerstone investors.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This marks the largest IPO of the year in the UAE<\/strong>, with edtech firm Alef Education\u2019s IPO following closely, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/8f0fda5b-4767-467e-a4af-d1219b067b0e\/abu-dhabi%25e2%2580%2599s-first-ipo-in-2024-tumbles-18%2525-on-market-debut\" style=\"\" rel=\"noopener\">raising AED 1.89 bn<\/a> but seeing a lackluster debut, with shares falling 18% on its first day of trading. Alef\u2019s shares were trading at AED 1.17 as of yesterday \u2014 down 13% YTD.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There\u2019s more in the ADX pipeline: <\/strong><\/p>\n<ul>\n<li>Supermarket chain <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/fa864923-b630-428a-8983-899370e1ccb4\/lulu-moves-forward-with-planned-ipo\" style=\"\" rel=\"noopener\">LuLu group<\/a> tapped advisors for a potential sale this year;<\/li>\n<li>Abu Dhabi National Hotels tapped Citigroup and First Abu Dhabi Bank to work on a planned IPO for its catering business ADNH Catering;<\/li>\n<li>Alpha Data <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/b5a6a284-e95b-4f0b-a577-0cfaccd95a8d\/abu-dhabi%25e2%2580%2599s-alpha-data-mulls-usd-200-mn-ipo\" style=\"\" rel=\"noopener\">could<\/a> tap the bourse this year;<\/li>\n<li><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/c51b4ea9-069c-433b-a44a-d91139d4417f\" style=\"\" rel=\"noopener\">Etihad Airways<\/a> has tapped advisors for what could be the Gulf\u2019s first airline IPO next year.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS- <\/strong>FAB acted as lead receiving bank and lead manager for the IPO. ADCB, WIO Bank, and Al Maryah Community Bank served as other receiving banks. International Securities acted as the placement agent and listing advisor. Hadef & Partners were the legal advisors.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The story got ink in <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-09-11\/nmdc-energy-climbs-after-staging-uae-s-biggest-ipo-of-2024\" style=\"\" rel=\"noopener\">Bloomberg<\/a><\/strong><strong>.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The IPO marks the largest listing in the UAE this year<\/p>\n","protected":false},"author":1,"featured_media":95725,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1560],"tags":[74,7,149,858,1366],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-95724","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipo-watch","tag-adx","tag-enterpriseam-uae","tag-ipo-watch","tag-national-marine-dredging-company","tag-nmdc-energy","wpautop","entry"],"acf":{"mongo_id":"d249b230-b142-40e5-8d16-cbc92815bf6e","order":"3","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/9\/983.jpg","photo_position":"above","homepage_title":"","full_issue_title":"NMDC Energy shares jump 20% on market debut","related_issue":[95719],"teaser":"The IPO marks the largest listing in the UAE this year","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/9\/.9e3e9d81-63a2-4f87-b8a1-742af50fded4.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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