money and business

Micropolis Holding Pursues $37M US IPO

Dubai’s Micropolis Holding, a pioneering robotics developer, has initiated plans for a $37 million IPO in the United States. The company, headquartered in Dubai, UAE, specializes in crafting autonomous mobile robots (AMRs) alongside associated software. Their recent filing with the SEC outlines an ambition to raise the aforementioned amount through an initial public offering.

In this IPO bid, Micropolis Holding aims to offer 8.2 million shares, estimating a price range between $4 and $5 per share. At this midpoint valuation, the company could potentially secure a market value of $172 million.

Micropolis distinguishes itself as a manufacturer focused on the creation of AMRs, employing wheeled electric vehicle platforms integrated with self-driving capabilities. The company’s product portfolio encompasses three primary sectors: AMRs, operational software (encompassing autonomous driving software, fleet mission planning, and bespoke software development services for users), and electronic control units paired with power storage units. Presently, Micropolis is in a pre-revenue stage due to its collaborative project focus. Anticipated commercial production, set to commence by the close of 2024, is expected to drive substantial revenue.

Micropolis Holding Pursues $37M US IPO

Micropolis Holding

Established in 2014, Micropolis Holding is gearing up to list on the NYSE; however, the company has yet to finalize its stock symbol (proposed ticker: MCRO.RC). Having filed confidentially on October 16, 2023, the offering is being managed solely by Network 1 Financial Securities as the bookrunner.

Read Also: Riyadh Valley Company Invests in IMPACT46 Fund III

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