A new listing enhances the position of the financial market and a preferred listing destination for companies

Trading in the shares of “Union Coop” begins in “Dubai Financial”

Dubai Financial Market welcomed the listing of the shares of "Union Cooperative", the first consumer cooperative in the UAE to take this step, in implementation of the Cabinet's decision regarding trading the shares of cooperative societies in the country's financial markets, which aims to enhance the regulatory environment for cooperatives and raise their competitiveness.

A statement said that the Dubai Financial Market witnessed a special celebration on this occasion, where Majid Hamad Rahma Al Shamsi, Chairman of the Board of Directors of Union Coop, rang the bell to start trading in the market, in the presence of Hamed Ali, CEO of the Dubai Financial Market and Nasdaq Dubai.


start trading

Trading in the shares of Union Coop has begun under the trading symbol (UNIONCOOP), within the consumer and luxury goods sector, which enables investors to trade its shares using the same mechanism followed with other companies listed in the market.

The statement stressed that the new listing enhances the position of the Dubai Financial Market, a preferred listing destination by leading companies locally and regionally, and supports the efforts made by various stakeholders to accelerate the implementation of the strategy to develop financial markets in Dubai.


Members' interests

Khalid Al Falasi, CEO of Union Coop, said: "The listing on the Dubai Financial Market reflects our keenness to enhance the protection of members' interests, by providing a systematic, effective and transparent mechanism for the trading of (Union Coop) shares."

He added: “We are determined to achieve the maximum possible benefit from our presence in the capital market, whether in terms of enabling (Union Coop) to benefit from the employment of the many components of the capital markets, in order to serve the efforts of implementing our growth strategy, or to provide members with advanced financial market services through the smart services system. and electronics for the Dubai Financial Market.


Market development

For his part, CEO of the Dubai Financial Market and Nasdaq Dubai, Hamed Ali, welcomed the listing of Union Coop, describing it as an important step in line with the efforts to implement the strategy to develop financial markets in Dubai, and the Dubai Financial Market's efforts to diversify investment opportunities.

He said: "This listing will enable investors to participate in a remarkable success story of one of the most prominent consumer cooperatives in the country in particular, and the retail sector in general, which is of great vitality and importance within the economic system in Dubai, which will be further consolidated in the coming days as cooperatives benefit from the ingredients We look forward to listing more cooperatives in the next stage.”


"Cooperative" strategy

According to the statement, Union Coop's strategy focuses on increasing profits and returns for shareholders, by raising the level of sales and revenues, while carefully monitoring costs, as well as continuous development of services for the benefit of customers.

The work of the Union Coop has witnessed a remarkable expansion during the past years, as it was launched through only two branches in 1984, bringing the number of its branches in 2021 to 24 branches, in addition to four shopping centers.

The number of its members reached 36,659 at the end of 2021, compared to only 315 in 1984.

The value of shareholders’ equity



“Union Cooperative” is one of the largest consumer cooperatives in the country, and the total value of its shareholders’ equity has exceeded the three billion dirhams barrier.

Tawuniya has a rich track record of operational and financial excellence and accomplishments since 1984, achieving a cumulative annual growth rate of 20.5% for net profits between 1984 and 2021, while the cumulative annual growth rate for sales reached 16.85%.

The "Cooperative" also recorded a 2.6% increase in its net profits during the first quarter of 2022, reaching 116.5 million dirhams, knowing that its net profits amounted to 413 million dirhams during the year 2021, with a profit margin of 21%.

Follow our latest local and sports news and the latest political and economic developments via Google news