Abu Dhabi: The Abu Dhabi Securities Exchange (ADX) announced today that it has listed MBME Group PLC, 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.

This achievement 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.

The digital consumer payment industry is a complex web of interlinked services that allow businesses to offer digital payment options to consumers for goods and services. In this dynamic landscape, MBME Group stands out as a leading provider of customized digitalisation solutions to government and government-related entities. Drawing on its extensive experience in digitalisation, MBME collaborates closely with its clients to develop state-of-the-art digital solutions that are tailored to meet specific needs. These solutions are not limited to development but also include long-term maintenance and upgrade services.

MBME, a family-owned business, becomes the 14th company to list on the ADX Growth Market, supporting the strategy of Abu Dhabi and the UAE to diversify the economy through the expansion of technology, financial services and other dynamic growth sectors. The Growth Market delivered robust performance last year. The value of shares traded in 2022 exceeded 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, providing an attractive window for businesses to enhance their profile, increase brand equity and fuel their growth.

Saeed Hamad Al Dhaheri, Managing Director and Chief Executive Officer of ADX, said: “We welcome MBME Group, one of the largest online providers of payment solutions in the region, to the Abu Dhabi Securities Exchange. 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: “We are delighted to engage with the equity markets and share our inspiring growth story with investors. 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.

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Abu Dhabi Securities Exchange

Abu Dhabi Securities Exchange (ADX) was established on November 15, 2000, by Local Law No. (3) Of 2000, the provisions of which vest the market with a legal entity of autonomous status, independent finance and management.  The Law also provides ADX with the necessary supervisory and executive powers to exercise its functions. On March 17, 2020, ADX was converted from a "Public Entity" to a "Public Joint Stock Company PJSC" pursuant to law No. (8) of 2020. ADX is part of ADQ, one of the region's largest holding companies with a broad portfolio of major enterprises spanning key sectors of Abu Dhabi's diversified economy.

ADX is a market for trading securities; including shares issued by public joint stock companies, bonds issued by governments or corporations, exchange traded funds, and any other financial instruments approved by the UAE Securities and Commodities Authority (SCA). ADX is the second largest market in the Arab region and its strategy of providing stable financial performance with diversified sources of incomes is aligned with the guiding principles of the UAE "Towards the next 50" agenda. The national plan charts out the UAE's strategic development scheme which aims to build a sustainable, diversified and high value-added economy that positively contributes to transition to a new global sustainable development paradigm.    

For more information, please contact:
ADX
Abdulrahman Saleh ALKhateeb
Manager of Corporate Communication & Digital Marketing
Email: ALKhateebA@adx.ae

Brunswick Group
Mahmoud Kassem
Director
Email: mkassem@brunswickgroup.com

About MBME Group

MBME Group, the UAE's first fully integrated online payment platform, offers payment collection and aggregation services to government and private sector entities, in addition to retail customers. The platform aims to accelerate the adoption of modern digital payment solutions, as real-time payment systems and digital banking continue to provide individuals, businesses, and financial institutions with robust transaction systems, end-to-end security, encrypted data transfer, and a variety of useful microservices.

The Group has made significant investments in the development and modernisation of its payment platforms, processing more than 90 million transactions involving over 3.2 million customers. The company has successfully created over 650 application programming interfaces (API) and operates over 4000 touch points across UAE. 

To learn more please visit https://mbmegroup.ae/