(MENAFN) The Board of Directors of NMDC Group has given the green light for an initial public offering (IPO) and the subsequent listing of a portion of shares of NMDC Energy—formerly known as National Petroleum Construction Company—on the Abu Dhabi Securities Market. This decision was made during a virtual meeting held on Friday. The IPO process, however, remains contingent upon receiving approvals from the Securities and Commodities Authority and the Abu Dhabi Securities Exchange.

NMDC Energy offers a broad range of integrated solutions in the energy sector, including engineering, procurement, and construction services for both onshore and offshore oil and gas operations. The NMDC Group, based in the UAE, is a diversified marine and energy conglomerate with interests spanning four main companies: NMDC Dredging & Marine, NMDC Energy, NMDC Construction (formerly Emirates Europe Plant), and NMDC Engineering.

In August, NMDC Group announced its rebranding from the National Marine Dredging Company to NMDC Group, having completed the necessary legal procedures for this name change which began in October 2023.  

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