Union Coop to list on DFM this morning

Dubai Media Office

Union Coop has become UAE's first retail cooperative to list its share's on the Dubai Financial Market.

The listing is part of the emirate's strategy to raise the competitiveness of its stock exchange and encourage more initial public offerings (IPOs).

Union Coop suspended trading of its shares through its own portal on July 1.

"The listing of Union Coop shares on the DFM will represent a key milestone in its development journey, as it provides our members with an efficient, regulated and transparent marketplace for trading of their shares," said Khalid Al Falasi, CEO of Union Coop.

As one of the largest retail cooperatives in the UAE, the value of Union Coop’s shareholders' equity exceeded AED three billion. It maintains a momentous record of operational and financial excellence since 1984, as net profits recorded a compound annual growth rate of 20.5%, while its sales increased 16.85%. The Union Coop registered a 2.6% increase in net profits of the first quarter of 2022 to AED 116.5 million, while net profits of the full year 2021 reached to AED 413 million, with a profit margin of 21%.

More from Business

Coming Up on Dubai Eye

  • The Business Breakfast

    6:00am - 10:00am

    The Business Breakfast is the day’s must listen for the UAE’s business leaders, and those who aspire to be.

  • The Agenda

    10:00am - 1:00pm

    Broadcasting every weekday, Georgia Tolley goes beyond the headlines to speak to government ministers, decision makers, analysts and local experts to find out how the news will impact those of us living in the UAE.


On Dubai Eye

  • Flying Taxis

    It sounds like an episode of The Jetsons, but the sight of flying taxis whizzing around our cities could be much closer than you think.

  • Tough penalties for deliberate tax evasion

    The UAE has said that tougher penalties will come into force from 1st August for not keeping proper corporate tax records.