Dubai-Based Robot Developer, Micropolis Holding, Targets $37 Million in IPO

Dubai-Based Robot Developer, Micropolis Holding, Targets $37 Million in IPO

By Staff Writer, 30 December 2023

Dubai's prominent autonomous mobile robot developer, Micropolis Holding, has announced its intention to go public.

The company lodged its filing with the U.S. Securities and Exchange Commission (SEC) on Friday (22/12), aiming to generate up to $37 million through an initial public offering (IPO).

Based in the bustling city of Dubai, United Arab Emirates, Micropolis Holding eyes the issuance of 8.2 million shares within a price bracket of $4 to $5 per share.

At this proposed pricing midpoint, the company's valuation is estimated to stand at a substantial $172 million.

At its core, Micropolis specializes in crafting cutting-edge autonomous mobile robots (AMRs).

These robots are designed on wheeled electric platforms and come packed with state-of-the-art autonomous driving features.

Beyond hardware, Micropolis offers a comprehensive suite of software solutions.

This includes advanced autonomous driving software, fleet mission planning tools, and tailored software development services.

Additionally, the company provides essential electronic control units and power storage solutions.

As of now, Micropolis remains in the pre-revenue phase.

The bulk of its ongoing projects are collaborative in nature.

However, the company foresees a revenue surge post its anticipated commercial production launch by the culmination of 2024.

Established back in 2014, Micropolis Holding eyes a prestigious listing on the New York Stock Exchange (NYSE).

Although the company is yet to finalize its trading symbol, it initially submitted its confidential IPO filing on October 16, 2023.

Taking charge of the offering, Network 1 Financial Securities has been appointed as the exclusive bookrunner.

Source: Abu Dhabi SME Hub

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