Dubai, UAE — The Abu Dhabi Securities Exchange (ADX) announced today that it has listed MBME Group, which operates the region’s largest online utility and government services payment platforms.
The Group, the first fintech company to list on ADX, made its trading debut on the Growth Market under the trading symbol MBME.
ADX said in a statement that the listing enables MBME Group to expand its offerings, access new markets and sectors, increase organic growth, and broaden its geographical focus to include various regions, in addition to transforming smart touch point kiosks into augmented, mixed, and virtual reality experiences.
MBME Group stands out as a leading provider of customized digitalization solutions to government and government-related entities, the statement said.
MBME, a family-owned business, becomes the 14th company to list on the ADX Growth Market, which delivered robust performance last year, with the value of shares traded in 2022 exceeding AED 29.8 billion, rising 88.1 percent year on year.
ADX’s Growth Market, which rebranded in March 2022, offers companies access to a wide investor base, together with support from the ADX on investor engagement. Listing and disclosure requirements are tailored to privately owned companies, family businesses and emerging companies, ADX said.
Saeed Hamad Al Dhaheri, Managing Director and Chief Executive Officer of ADX, 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. 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.”
Ali Mohamed Saeed Albadi Aldhaheri, Chairman of MBME Group, said, “Listing on the ADX Growth market is a crucial factor in our growth trajectory as we expand and develop at a rapid pace. As a result, we can continue investing in the expansion of our payment systems and maintain our leadership position in the market. It also offers us the potential to acquire funds and build brand value.”
” 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. Currently, 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 3.2 million clients, more than 650 APIs, and 4,000 touchpoints across the UAE,” he said.
