Union Coop announces intention to list its shares on the DFM on 18th of July 2022

Union Coop announces intention to list its shares on the DFM on 18th of July 2022

As part of the Dubai Securities and Exchange Higher Commission strategy

- The listing provides a regulated and transparent trading environment and supports implementation of Dubai’s financial markets development strategy

- Net profits of first quarter 2022 up 2.6% to AED 116.5 million

- 20.5% compound annual growth rate of Union Coop’s net profits and 16.85% for its sales

- Remarkable operational expansion from two branches to 23 branches and 4 malls

- Suspension of trading on Union Coop shares as of 1st of July 2022 until the accomplishment of the listing

Dubai: The Union Coop today announced its intention to list its shares on the Dubai Financial Market (DFM) on Monday, 18th of July 2022, as the first retail cooperative in the UAE that takes this pioneering step, the listing is a part of the Securities and Exchange Higher Commission strategy aiming at increasing stock market size in the Emirate to Dh3 trillion, raise competitiveness of bourses and encourage public initial offerings (IPOs).

The Union Coop also announced the suspension of trading on its shares through the its portal as of today, Friday, 1st of July, 2022. Trading will be resumed on 18th of July through the DFM, noting that the Union Coop will exercise a