MBME to list on ADX Growth Market on April 17

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’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.