Micropolis Holding (MCRP), the parent of a United Arab Emirates company that makes autonomous mobile robots, priced its IPO at $4.00 – and sold 3.875 million shares – to raise $15.5 million on Thursday night, March 6, 2025. At pricing, Micropolis Holding downsized its IPO to 3.875 million shares – down from 5.0 million shares in the prospectus – and priced the deal at $4.00 – the low end of its $4.00-to-$5.00 price range. Under its original terms, Micropolis Holding’s IPO had been expected to raise $22.5 million.
Shares of Micropolis Holding started trading at $3.90 – down a dime from their $4.00 IPO price – in their debut today – Friday, March 7, 2025 – on the NYSE – American Exchange. Micropolis shares were trading at $3.68 – down 32 cents from their IPO price – at around 1:25 p.m. EST today – having traded in a range from $3.06 to $4.00 – in their first day of trading on the NYSE – American Exchange on volume of 549,017 shares.
Network 1 Financial Securities acted as the sole book-runner.
The company’s operating subsidiary, Micropolis Dubai, manufactures autonomous mobile robots. The company, founded in 2014, says its clients include corporations and government agencies.
“We have established a strong track record of successful partnerships with local governments and real estate developers.” Micropolis Holding said in the prospectus. “Our work with the Dubai Police is a prime example of this ongoing effort; they are playing an essential role in the creation of “Microspot,” which is an AI-powered security software we are currently developing as of the date of this prospectus. In particular, the Dubai Police have assembled a team to assist us in shaping the Microspot software, providing crucial insights into police operations and supplying dummy data for data science and machine learning. This partnership has not only facilitated us in navigating regulatory complexities but also provided invaluable support in testing and validating our products. Further, we have partnered with Dubai Police to develop self-driving security patrolling vehicles that enhance security surveillance operations, to help reduce crime through security deterrence.
“We are also working closely with the Road and Transportation Authority in Dubai, UAE (“RTA”) through Dubai Police Innovation Lab. RTA is aiding us by designating the Jumeirah 1 area in Dubai as a safe testing environment for our autonomous driving system, which is still in development as of the date of this prospectus. RTA is also supplying high-definition maps of the area and data that will be essential in shaping the autonomous driving system.
“Furthermore, our ongoing partnership with The Sustainable City in Dubai is proving invaluable, as they provide us with both high-definition city mapping and a living lab within their residential community for testing and validation. This collaboration allows us to work within a real-life environment to iteratively refine our autonomous driving features.”
Micropolis Holding is not profitable, according to financial statements in the prospectus.