MAIR Group Lists on Abu Dhabi Securities Exchange (ADX)
Shares began trading at a reference price of AED 1.16, giving the company a market capitalization of AED 2.6 billion Abu Dhabi-based Mair Group is Empowering Communities: Serving 24 million customers annually through a network of 100+ stores, managing over 50 community hubs with an impressive 85% occupancy rate, and supporting UAE food security through strategic investments and sustainability initiatives Mair Group’s 2023 dividends of AED 135 million implies around 5% dividend yield based on the listing price.
Abu Dhabi, UAE – 09 December 2024: Mair Group (“Mair”, the “Company” or the “Group”), a strategic investment group focused on food retail, commercial real estate, and supporting the UAE’s food security agenda, is now listed on the Abu Dhabi Securities Exchange (ADX) under the trading symbol “MAIR” and ISIN AEE01571M249. 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 capitalization of approximately AED 2.6 billion (USD 706 million), positioning Mair among the leading players in the UAE’s retail, real estate, and strategic investment sectors.
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.
Captain Mohamed Juma Al Shamisi, Chairman of Mair Group, said: “Today marks a defining moment in the journey of Mair Group. By taking a bold step of a direct listing. 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. This listing is not just about the numbers, it is about reaffirming our commitment to growth, opportunities and building legacy of trust and shared success.”
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."
Mr. Nehayan Al Ameri, Group Chief Executive Officer of Mair Group, added: “Being listed is a transformative move that positions Mair Group for the next phase of growth and innovation. 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. Our future plans include expanding our retail presence and advancing our real estate projects, which will drive sustainable value creation for shareholders. We are excited to engage with a wider pool of investors through this direct listing and look forward to the opportunities ahead as we continue to strengthen communities and contribute to the UAE’s growth.”
