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The Abu Dhabi Securities Exchange (ADX) has listed MBME Group, which operates the region’s largest online utility and government services payment platform.
The group is the first fintech company to list on the ADX, making its debut in a growth market under the trading symbol MBME.
This achievement has enabled MBME Group to expand its product range, enter new markets and territories, foster organic growth and expand its geographic focus to include regions, in addition to transforming smart touchpoint kiosks into augmented, mixed and virtual reality experience.
complex network
The digital consumer payments industry is a complex web of interconnected services that allow businesses to offer consumers digital payment options to purchase goods and services. In this dynamic environment, MBME Group stands out as a leading provider of bespoke digital solutions to Government and Government-related entities.
Drawing on its extensive experience in digitalization, MBME works closely with clients to develop state-of-the-art digital solutions tailored to meet specific needs. These solutions are not limited to development, but also include long-term maintenance and upgrade services.
Family-owned MBME becomes the 14th company to list on the ADX Growth Market, supporting Abu Dhabi and the UAE’s strategy to diversify their economies by expanding into technology, financial services and other dynamic growth sectors. Growth markets performed strongly last year. The value of equity transactions in 2022 will exceed AED 29.8 billion (US$ 8.11 billion), an increase of 88.1% year-on-year.
broad investor base
ADX’s Growth Marketplace, which was renamed in March 2022, provides companies with access to a broad investor base, as well as ADX’s support for investor engagement. Listing and disclosure requirements are tailored for private companies, family businesses and emerging companies, providing an attractive window for businesses to enhance their image, increase brand equity and drive growth.
Saeed Hamad Al Dhaheri, Managing Director and CEO of ADX, said: “We welcome MBME Group, one of the largest providers of online payment solutions in the region, to Abu Dhabi Securities Exchange. The dynamic exchange brings further diversification, offers investors a wider range of unique growth opportunities, and strengthens ADX’s position as one of the leading exchanges in the region.Despite the current global market volatility, Abu Dhabi remains a safe place An investment haven in the United Arab Emirates, this is further strengthened by the UAE government’s commitment to creating a business-friendly environment.”
Ali Mohamed Saeed Albadi Aldhaheri, Chairman of MBME Group, said: “We are excited to participate in the stock market and share our inspiring growth story with investors. Listing on the ADX Growth market is a key element in our growth trajectory as we rapidly expand and develop “So we can continue to invest in expanding our payment system and maintain our leading position in the market. It also provides us with the potential to secure capital and build brand equity.”
“As the first fully integrated online payment platform in the UAE, we are very proud to offer our customers a fast and secure payment process. We are currently well positioned to facilitate the adoption of cutting-edge digital payment solutions in the region, having executed Over 90 million transactions involving over 3.2 million customers, over 650 APIs and 4,000 touchpoints.– trade arab news agency
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