Intention to float announcement
16 April 2024
Opening of subscription
23 April 2024
Retail subscription closure
29 April 2024
Final price offer announcement
1 May 2024
Refunds
7 May 2024
Expected listing date
9 May 2024
Market
DFM
Website
Spinneys
One of the leading fresh-focused food retailers in the UAE.
Operating in a sizeable market with growing, resilient long-term demand for premium fresh food.
Well-positioned for regional expansion in Saudi Arabia, the GCC’s largest economy, with four Spinneys stores targeted to open in the Kingdom in 2024.
Strong value proposition built on a differentiated offering, quality, convenience, and strong brand recognition.
Experienced and focused team, with 22% of the workforce having been with the group for 10 years or more.
Well-invested, vertically integrated, global sourcing network, and two centralized production facilities in the UAE.
Strong revenue growth driven by increasing demand for premium fresh food.
Future revenue growth underpinned by expansion of store network, diversification of offering, operational and supply chain efficiencies, fixed cost controls, in-house production capability and operating leverage.
Led by a well tenured, experienced leadership team with an ownership mindset and a focus on sustainability.
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