Abu Dhabi – Mubasher: MBME Group, a family-owned business, has joined Abu Dhabi Securities Exchange (ADX) on 17 April, becoming the first fintech company to list on the stock market.
The group made its trading debut on the Growth Market of ADX under the trading symbol MBME. It operates the region’s largest online utility and government services payment platforms, according to a press release.
By listing on ADX, MBME Group will be able to expand its offerings, in addition to entering new markets and sectors, raising organic growth, and broadening its geographical focus to include different regions.
The group will also be able to transform smart touchpoint kiosks into augmented, mixed, and virtual reality experiences.
MBME is the 14th firm to list on the ADX Growth Market, supporting Abu Dhabi and the UAE’s visions to diversify the economy through the expansion of technology, financial services, and other dynamic growth sectors.
It is worth noting that ADX’s Growth Market, which rebranded in March 2022, delivered a strong performance last year; the value of the traded shares throughout 2022 surpassed AED 29.8 billion, marking an annual surge of 88.10%.
Managing Director and CEO of ADX, Saeed Hamad Al Dhaheri, said: “MBME’s listing will bring further diversification to our dynamic exchange, offering investors a wider range of unique growth opportunities and reinforces ADX’s position as one of the leading exchanges in the region.”
Al Dhaheri noted: “Despite the current volatility in global markets, Abu Dhabi continues to be a safe investment haven, strengthened by the UAE government’s focus on creating a business-friendly environment.”
Meanwhile, Ali Mohamed Saeed Albadi Aldhaheri, Chairman of MBME Group, said: “As the first completely integrated online payment platform in the UAE, we are incredibly proud to provide our customers with a quick and secure payment process.”
Regarding the group’s current position, Aldhaheri said: “We are in a good position to promote the adoption of cutting-edge digital payment solutions in the region with over 90 million transactions performed involving more than 3.20 million clients, more than 650 APIs, and 4,000 touchpoints across the UAE.”
