Micropolis Holding, a Dubai-based company specializing in the development of autonomous mobile robots (AMRs) and related software, has successfully raised $16 million through its initial public offering (IPO).
The company offered 3.9 million shares at $4 per share, the lower end of the expected price range of $4 to $5 per share. Following the IPO, the company’s market valuation reached $136 million.
The offering faced some challenges, as the company issued 1.1 million fewer shares than initially planned. Nevertheless, this marks a significant milestone for Micropolis Holding, reflecting investor confidence in its technological vision.
The company is known for its development of autonomous mobile robots (AMRs), which are built on electric vehicle platforms equipped with self-driving technologies.
Its products are divided into three main categories, autonomous mobile robots (AMRs) designed for industrial and commercial use, operational software including self-driving software and fleet task planning, and electronic control units and energy storage modules that enhance operational efficiency and automation.
Micropolis Holding is preparing to list on the NYSE American under the ticker symbol MCRP, a strategic move aimed at expanding its global presence. The IPO was managed by Network 1 Financial Securities as the lead underwriter.
