Daman and its U.S. strategic partner, Global Crown Capital, Ltd. the co-lead managers announced that the initial public offering (IPO) of NanoDynamics, Inc. has been priced at US$ 11 per share. NanoDynamics intend to be the first U.S. company to list on the DIFX.
NanoDynamics, Inc. is a U.S.-based global alternative energy and clean technology company utilizing nanotechnology-based advanced materials to develop solutions to some of the world’s most urgent challenges in the energy, environment, water and infrastructure markets.
The intent of this IPO is to place 9,100,000 shares at a filing price of US$ 11 to raise US$ 100 million. The trading symbol for NanoDynamics will be “NDMX’.
The anticipated listing will take place the week of 11 February 2008. In the intended listing, approximately half of the participants will be U.S. institutional investors and other half regional Middle East institutions and accredited investors.
Mr. Shehab Gargash, Group CEO of Daman said: “The IPO of a U.S. company on DIFX is an important first in global trading terms. This historic listing will take place because of the strategic vision of Dubai’s leadership who positioned DIFX as the world’s newest major global exchange. We are very proud to act as co-lead manager for this exceptional offering, and believe that this IPO will prove the growing acceptance of DIFX as an internationally recognized platform. We are confident that there will be great interest in this IPO both globally and regionally.”
Mr. Rani Jarkas, CEO of Global Crown Capital, Ltd. said: “We are very pleased to have blue chip investors from the region and the U.S. participate in this exciting offering. Our intention going forward is to streamline the process for appropriate high-quality U.S. companies interested in listing on the DIFX. For the benefit of investors, companies will be stringently evaluated by our team of world-class, veteran equity research analysts. Our research team will also provide post-listing equity coverage.”
