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Mair Group to list on ADX in December: Abu Dhabi investment firm Mair Group will directly list on the Abu Dhabi Securities Exchange (ADX) on 9 December, according to a press release. The company reported AED 1.2 bn in revenue during 1H 2024 and distributed AED 135 mn in dividends, representing 12.1% of its share capital, to its over 12k shareholders.
About the company: Mair Group specializes in food retail and commercial real estate, operating over 100 stores under the Adcoop and Spar brands and managing over 12 shopping centers, including the Mall of Al Ain and Makani Community Centres, boasting a 95% occupancy rate. The firm has grown through acquisitions, including Abu Dhabi Cooperative Society and Makani Real Estate.
REMEMBER- The company was recently consolidated, with Adcoop and Makani Real Estate moving under its wing in September.
ADX’s has been busy: LuLu Group’s retail arm, Lulu Retail, raised AED 6.3 bn from its IPO on ADX in November, while Abu Dhabi National Hotels’ ADNH Catering raised AED 864 mn from its IPO in October. The stock market rush was also joined by Abu Dhabi-based edtech firm Alef Education which raised AED 1.89 bn in June.
THERE’S MORE TO COME-
- Etihad Airways is set to make its debut sometime next year;
- while Alpha Data set to debut in a potentially USD 200 mn IPO on the ADX soon.
