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NMDC Energy IPO on Abu Dhabi bourse attracts $24bn

Summary by AGBI
The initial public offering (IPO) of NMDC Energy on the Abu Dhabi Securities Exchange (ADX) generated AED88 billion ($23.96 billion) in gross demand, oversubscribing by 31.3 times. A total of 1.15 billion shares, representing 23 percent of NMDC Energy’s total share capital, were offered at AED2.8 per share. The IPO was oversubscribed within hours of its launch on August 30. At the close of the subscription period, the retail tranche was oversub…
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Abu Dhabi, United Arab EmiratesAbu Dhabi, United Arab Emirates
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