MBME to List on ADX Growth Market on April 17

(Menarfin– Khaleej Times) MBME Group, the UAE’s largest payment aggregator platform, has announced that it will list on the Growth Market of the Abu Dhabi Securities Exchange (ADX), thereby becoming the first fintech company to list on the UAE’s financial market. MBME will be available on April 17th.

In addition to transforming smart touchpoint kiosks into augmented, mixed and virtual reality, the group said it will expand its product range, enter new industries and markets, increase organic expansion, and widen its geographic focus to include various other geographies.

The Growth Market is a trading platform launched by the Abu Dhabi Securities Exchange (ADX) to connect investors and private companies. Growth markets offer companies access to a broad investor base, ADX support for investor engagement, and opportunities to enhance brand equity. It replaces the secondary market launched in 2014.

Listing in a growth market allows companies to strengthen brand equity and corporate governance, creating opportunities to expand investor base, optimize cost of capital and expand business networks. It opens up a range of growth opportunities, including the option for a subsequent IPO in key markets.

MBME Group will use the proceeds from the capital increase to advance the company’s global expansion and initiate horizontal and vertical integration through product launches and acquisitions. Compared to a decade ago, markets and businesses now recognize the value and advantages of fintech companies, leading to significant capital allocation within this market. ADX will witness a large number of listings and IPOs in 2022.

Ali Mohamed Saeed Albadi Aldhaheri, Chairman, MBME Group, said: “We believe that our listing program will provide the most favorable opportunity to encourage other companies to embrace and keep pace with the multiple digital advancements. The listing will enable us to provide local, regional and New and existing customers in global markets provide higher margin innovative products and services, while driving the development of its market-leading proprietary technical knowledge.”

MBME Group will use the proceeds from the listing to complete mergers and acquisitions (M&A) transactions and to advance the company’s global expansion. The company’s services are used in various sectors of the economy, including telecommunications, utilities, transportation, government, entertainment, aviation, travel, and international money transfers and payments.

Abdelhadi Mohamed, Managing Director, MBME Group. – Photos provided

Abdelhadi Mohamed, Managing Director, MBME Group, said: “We have a dynamic workforce and embrace next-generation digital business processes that function well even when deployed across multiple locations and time zones. Our plans to list on the ADX growth market It will be another important milestone for us, made possible by our cutting-edge technology and best-in-class service.”

MBME Group is the first fully integrated online payments platform in the UAE, providing collection and aggregation services to government and private sector entities in addition to retail clients. The Group has invested heavily in the development and modernization of its payment platform, processing more than 90 million transactions involving more than 3.2 million customers. The company has successfully created over 650 Application Programming Interfaces (APIs) and operates over 4,000 touchpoints across the UAE.

The listing of MBME Group on ADX will make it the first 100% Emirati family-owned business following the UAE leadership’s vision of transforming Emirati companies into international companies by 2030.