Under the partnership, Ayala Corporation will hold a 60 per cent stake, whilst Spinneys will own the remaining 40 per cent
Spinneys
Latest in Spinneys
Alshaya Group
Spinneys enters Kuwait with Alshaya joint venture, first store to open in 2026
Spinneys expands into Kuwait with Alshaya joint venture. Ten stores planned, first opening in 2026, marking its fourth GCC market entry
retail industry
Six new stores boost Spinneys H1 2025 revenue growth by 13.7% to $490mn
Company experiences increase in online sales and higher penetration of fresh and private label sales as adjusted EBITDA grows 20.0%
Saudi Arabia
New stores propel Spinneys’ Q1 revenue to all-time high of $246.7mn, up 11.3%
Growth driven by increase in like-for-like sales, new store openings, increase in online sales and higher Fresh and Private Label sales
Spinneys
Spinneys in Saudi Arabia: Supermarket chain expands in Riyadh and Jeddah, targets 12 stores by 2028
Spinneys opens first Jeddah store and expands in Riyadh as it spreads across Saudi Arabia
Spinneys
Spinneys revenue up 12.3% in FY2024 to record $870mn
Profit before tax grows 26.2% to $87.95 million; Planning to open 10-12 new stores in 2025; Online sales grow 14.1%
Spinneys
Spinneys announces record $626m revenue in 2024 so far
Spinneys reports sharp increase in profit before tax for the first nine months of 2024
E-commerce
Spinneys posts record 9.9% revenue growth in H1 2024, announces first post-IPO dividend
Spinneys’ board has approved its first post-IPO interim dividend of AED102.6 million, equivalent to 2.85 fils per share, representing 70 percent of distributable profits
Saudi Arabia
Dubai’s Spinneys opens first store in Saudi Arabia
Located in Riyadh’s emerging mixed-use development La Strada Yard, the 43,520 square foot Spinneys supermarket offers fresh and premium products including imports, local items and private label ranges
Alef Education
UAE stock markets attracted $5.8bn of market cap through 3 major IPOs, targets $1.6tn valuation
UAE stock markets are targeting a value of around $1.6tn following successful IPOs this year
BHM Capital
BHM Capital appointed liquidity provider for Spinneys’ shares on DFM
The latest agreement follows the successful role BHM Capital played providing the price stabilization mechanism for Spinneys’ shares when they were newly listed on DFM last month
Dubai Mall
Spinneys launches ‘The Kitchen by Spinneys’ at Dubai Mall
It’s the company’s first-ever standalone food hall concept; A second Kitchen by Spinneys scheduled to open at Creek Harbour later this year
Dubai
Spinneys reports $221.9mn sales in first post-IPO quarterly result
Q1 2024 total revenue grows 10.9%; Gross profit up 15.1% to $91.5 million; First Saudi store expected to open this quarter
DFM
Spinneys IPO: Shares jump over 9% in early trading on Dubai Financial Market
Spinneys successfully listed on Dubai Financial Market and saw immediate gains for shareholders
DFM
Spinneys IPO: Massive demand sees supermarket giant valued at $1.5bn as offering oversubscribed by 64 times
Spinneys sees $19bn of interest from local, regional and international investors ahead of IPO
Dubai
Spinneys increases retail offering of IPO to 63 million shares
Total size of the IPO remains unchanged at 900 million shares; Institutional investors offering now reduced to 93%
Dubai
Spinneys, LuLu’s IPOs to set right tone for other private family-owned businesses to follow suit, say analysts
Until now, most listings in the UAE were from government utilities and private corporations