Mair Group lists on Abu Dhabi Securities Exchange
Dec 09, 2024
Abu Dhabi [UAE], December 9 (ANI/WAM): Mair Group, a strategic investment group focused on food retail and commercial real estate, is now listed on the Abu Dhabi Securities Exchange (ADX) under the trading symbol "MAIR".
Mair Group's shares are available to institutional and individual investors reflecting the company's commitment to market accessibility.
The company's shares commenced trading at a reference price of AED 1.16 per share with a market capitalisation of approximately AED 2.6 billion (USD 706 million).
The listing is a crucial step in Mair's long-term strategy of growing both its food and commercial real estate businesses while investing in the value chain that actively contributes to the UAE food security agenda. Furthermore, a direct listing gives shareholders the opportunity to sell their shares easily at a fair value. It also ensures that new investors, retail or institutional, have an equal chance to share in Mair's growth and success.
Mohamed Juma Al Shamisi, Chairman of Mair Group, said, "This milestone reflects our belief in empowering our community of loyal partners and supporters to participate in building a better future, inspired by the guidance and vision of our wise leadership. It also represents our commitment to innovation, sustainable growth and creating long-term value for all stakeholders.
As we embark on this next chapter as a listed company, we remain steadfast in our mission to lead in the strategic development of the UAE's food and commercial real estate sectors, while striving to deliver meaningful impact in the UAE community."
Abdulla Salem Alnuaimi, Group Chief Executive Officer of ADX, said, "We congratulate Mair Group on their successful listing, marking the 26th listing of a financial security on ADX this year. This milestone enhances our diversified sector offerings and highlights ADX as the preferred platform for financial growth in the UAE and beyond.
The inclusion of Mair Group, a leader in the retail sector, reflects Abu Dhabi's progress in fostering a robust, multi-sector economy and strengthens the trust issuers place in our dynamic and transparent market. We look forward to the positive impact this listing will have on Abu Dhabi's financial landscape."
Nehayan Al Ameri, Group Chief Executive Officer of Mair Group, stated, "With a strong portfolio across food retail, commercial real estate, and strategic investments, this listing offers a transparent platform for investors to participate in our long-term success." (ANI/WAM)
