MBME Group, the operator of the UAE’s largest online utility and government services payment platforms, has made history as the first fintech company to be listed on the UAE’s financial market, specifically the ADX Growth Market. With the trading symbol MBME, the stock opened at AED12.000 and closed at AED12.300 on its debut day. As a family-owned business, MBME is now the 14th company to be listed on the ADX Growth Market, providing access to a broad investor base and support from ADX in terms of investor engagement and brand equity enhancement opportunities.
“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,” said Saeed Hamad Al Dhaheri, Managing Director and Chief Executive Officer of ADX.
“Listing on the ADX Growth Market is a crucial factor in our growth trajectory as we expand and develop at a rapid pace. We are in a good position to promote the adoption of cutting-edge digital payment solutions in the region with more than 90 million transactions performed involving more than 3.2 million clients, more than 650 APIs, and 4,000 touchpoints across the UAE,” Ali Mohamed Saeed Albadi Aldhaheri, Chairman of MBME Group, said.
MBME Group is a prominent provider of bespoke digitalization solutions to government entities and those related to the government. They specialize in developing cutting-edge digital solutions that are customized to meet the specific needs of their clients, including long-term maintenance and upgrade services. With the capital increase from their recent listing on the ADX Growth Market, MBME plans to utilize the funds to drive global expansion and implement horizontal and vertical integrations by launching new products and acquiring fintech companies.
“We review on an average 500-600 deals and after due diligence and filtration process, we focus on 50 to 60 deals and then we close five to ten investments per year,” Faisal Janahi Managing Director MBME Investment, the group’s investment arm, said. “Our expansion plan focuses on expanding outside the UAE. Next step is targeting the GCC and MENA region and South-East Asia to expand our current services. We also look at investing in fintech firms on a global scale,” he added.
