MBME to list on ADX Growth Market on April 17

UAE’s largest payment aggregation platform serves over 3.2 million customers

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A Staff Reporter

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An investor looks up at electronic boards displaying stock information at the Abu Dhabi Securities Exchange. - Reuters file
An investor looks up at electronic boards displaying stock information at the Abu Dhabi Securities Exchange. - Reuters file

Published: Fri 14 Apr 2023, 2:40 PM

MBME Group, the UAE’s largest payment aggregation platform, has announced that it will list on the Growth Market of the Abu Dhabi Securities Exchange (ADX), thus becoming the first fintech company to be listed on the UAE’s financial markets. MBME is to list on April 17.

The Group says it will expand its offerings, access new sectors and markets, increase organic expansion, and broaden its geographic focus to include various other regions, in addition to transforming smart touch points kiosks into augmented, mixed, and virtual reality.


The Growth Market is a trading platform launched by the Abu Dhabi Securities Exchange (ADX) to connect investors and privately owned business. The Growth Market offers companies access to a wide investor base, support from the ADX on investor engagement and an opportunity to enhance their brand equity. It replaces the second market, which was launched in 2014.

Listing on the Growth Market allows companies to enhance their brand equity and corporate governance, creating opportunities to broaden their investor base, optimise cost of capital and expand business networks. It opens up a range of growth opportunities, including the option of a subsequent IPO on the Main Market.


MBME Group will deploy the proceeds of the capital increase to advance the company’s global expansion and initiate horizontal and vertical integrations via product roll-outs and acquisitions. Compared to a decade ago, the market and businesses now recognise the value and benefits of fintech firms, resulting in significant capital deployment within this market. The ADX witnessed a large number of listings and IPOs in 2022.

Ali Mohamed Saeed Albadi Aldhaheri, chairman of MBME Group said: “We believe our plan to list in the market will present the most favourable opportunity to encourage other companies to embrace and keep pace with several digital advancements. Being listed will enable us to offer higher margin, innovative products, and services to both new and existing customers in local, regional, and global markets, while also advancing the development of its market-leading proprietary technological know-how.”

MBME Group will deploy the proceeds of the listing to finalise merger and acquisition (M&A) transactions and advance the company’s global expansion. The company’s services are being used in a variety of economic sectors, including telecommunications, utilities, transportation, government, entertainment, aviation, tourism, and international money transfers and payments.

Abdelhadi Mohamed,Managing Director of MBME Group. - Supplied photo
Abdelhadi Mohamed,Managing Director of MBME Group. - Supplied photo

Abdelhadi Mohamed, managing director of MBME Group said: “We have a vibrant squad of employees and incorporate next-generation digital business processes that function well even when deployed across many locations and time zones. Our plan to list in the ADX Growth Market will be yet another significant milestone for us, which will be made possible by our cutting-edge technologies and top-notch services.”

MBME Group is UAE’s first fully integrated online payment platform, offering payment collection and aggregation services to government and private sector entities, in addition to retail customers. The Group has made significant investments in the development and modernization of its payment platforms, processing more than 90 million transactions involving over 3.2 million customers. The company has successfully created over 650 application programming interfaces (API) and operates over 4,000 touch points across UAE.

MBME Group’s listing in ADX will make it the first 100 per cent Emirati family company to follow the UAE’s leadership vision in transforming Emirati companies into international companies by 2030.


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