Mir Group shares jump 400% upon listing

Mir Group shares jumped nearly 400% to 5.7 dirhams upon listing on the Abu Dhabi Securities Market during the beginning of Monday’s session, within the consumer goods sector..

The Abu Dhabi Market announced that the reference price for the company’s shares when it begins trading in the market is the final offering price for the public offering, which is 1.16 dirhams..

It is noteworthy that the Mir Group was established as a result of a strategic merger of four cooperative societies as a unified entity, where a comprehensive process of unifying its assets was implemented and classified into specific sectors, including the retail and commercial real estate sectors..

The group operates more than 100 retail stores under the Adcoop and Spar brands, and through its “Makani” arm, it also manages more than 12 community shopping centers with an occupancy rate of 95% across 330,000 square meters of leasable commercial space..