Dubai-based robotics firm Micropolis to debut on NYSE
Dubai-based AMR maker aims to raise $15.5 million in NYSE IPO
#UAE #USA #IPO - Micropolis Holding Company has issued pricing guidance for an initial public offering on the New York Stock Exchange (NYSE) scheduled for today (Friday March 7th, 2025). The Dubai-based robotics manufacturer aims to raise $15.5 million by offering 3,875,000 ordinary shares at $4.00 each. The company, which specialises in developing autonomous mobile robots (AMRs) with autonomous driving capabilities, will trade under the ticker symbol MCRP. Founded in 2014, Micropolis integrates application-specific pods into its wheeled, autonomous electric vehicle platforms for various functionalities including surveillance, road sweeping, logistics, and human-robot collaboration. The company has an ongoing R&D partnership with Dubai Police Force to develop autonomous rovers for police use.
SO WHAT? - Listing on the New York Stock Exchange can open the doors to a new global community of investors, raise a company’s visibility and add prestige value to your brand. However, requirements for listing on the exchange are comprehensive and preparing to list on the exchange and securing all the required approvals can present a formidable challenge. Micropolis first filed with the U.S. Securities and Exchange Commission (SEC) in 2023 (companies must comply with both SEC and NYSE requirements in order to list). So the greenlight to list on the NYSE now provides international validation for the UAE robotics developer.
Here are some key details about the Micropolis and is IPO:
Micropolis Holding Company yesterday announced the pricing of its underwritten initial public offering (IPO) of 3,875,000 Ordinary Shares at a public offering price of $4.00 per share, for total gross proceeds of $15.5 million to the company, before underwriting discounts and other offering expenses.
Ordinary Shares are expected to begin trading on the NYSE American under the ticker symbol MCRP on March 7, 2025. The IPO is expected to close on March 10, 2025, subject to satisfaction of customary closing conditions.
Micropolis is a UAE-based robotics manufacturer founded in 2014, with its headquarters located in Dubai Production City, Dubai.
The company specialises in developing AMRs (autonomous mobile robots), building application-specific pods on top of autonomous EV platforms. Pods accommodate various functionalities, including surveillance cameras, road sweepers, logistics compartments, as well as collaborative robots intended for direct human-robot interaction.
The Micropolis website lists ADNOC, Dubai Customs, Dubai Municipality, Dubai Police, Dubai South, du, and NEOM as clients, while partners listed include Dubai Future Labs, Dubai Police, Dubai RTA, EIH, Fixposition, NVIDIA, See Institute, Siemens, Smartmicro, The Sustainable City, Dubai and Vellodyne.
Key board directors and executive officers include: Marwan Jassim Al Sarkal, chairman of the board and independent director of Micropolis, and founder of Al Mur Investment; Saken Saryyev, director of Micropolis; Fareed Aljawhari, CEO and director of Micropolis; Dzmitry Kastahorau, CFO of Micropolis; Peter Balint, member of the board, and partner at One Family Office; and Alun Richards, independent director of Micropolis. (Source: SEC registration statement)
Network1 Financial Securities, Inc. is serving as the sole book-running manager for the offering, which was conducted on a firm commitment basis. Loeb & Loeb LLP acted as U.S. securities counsel to the company, and Hunter Taubman Fischer & Li LLC acted as U.S. securities counsel to Network 1 Financial Securities, Inc., in connection with the offering.
The company has granted underwriters a 45-day option to purchase up to 581,250 additional shares at the IPO price to cover potential over-allotments, which could increase total proceeds.
The Dubai robotics firm intends to use the proceeds for talent acquisition, marketing, advanced equipment purchases, R&D expenses, contract fulfilment, loan repayment, and working capital.
Micropolis has a long-standing collaboration agreement with Dubai Police to develop autonomous rovers for use by the service. Its first two prototypes for the police force, the M1 and M2 rovers, were on display to the public at Expo 2020 Dubai (which took place 2021-2022).
The company plans to expand into mobility-as-a-service for urban environments, providing autonomous vehicles for commercial applications including cleaning, last-mile logistics, and transport shuttles.
The company has been planning the IPO for some time, submitting its registration statement with the SEC in December 2023. Final listing approval was received from the NYSE on Thursday.
In 2022, Micropolis raised $4 million via a Seed round led by San Francisco-based venture capital firm Mindrock Capital.
ZOOM OUT - Micropolis Robotics’ mission to empower organisations via innovative AI and robotics solutions aligns perfectly with Dubai's own ambitions for robotics and automation. Announced in 2022, the Dubai Robotics and Automation (R&A) Programme aims to increase the robotics sector's contribution to Dubai’s GDP to 9 percent before the year 2032. The programme also seeks to drive adoption of robotics solutions, facilitating the introduction of 200,000 robots across public and private sectors by 2032, including the services, logistics, and the industrial sectors.
Update: Micropolis Holding opened trading on NYSE at $3.90 per share on Friday March 7th.
Updated 11-Mar-25
LINKS
Read the official IPO statement & pricing guidance (Globalnewswire)
IPO closing announcement 10-Mar-25 (Globalnewswire)
NYSE quote page: MCRP (NYSE)
Read more about Dubai’s robotics sector:
Dubai's new robotics play (Middle East AI News)
The UAE's hidden gems (Middle East AI News)
Dubai launches new drone initiative (Middle East AI News)