Supermarket Chain Spinneys Advances in Dubai Trading Debut

Grocer received orders worth $19 billion for $375 million IPO
Spinneys is a rare private sector listing in the UAE

Customers shop inside a Spinneys supermarket in Dubai, on May 1. — Customers shop inside a Spinneys supermarket in Dubai, on May 1.
Photographer: Natalie Naccache/Bloomberg

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By Julia Fioretti

May 9, 2024 at 6:04 AM UTC

Updated on

May 9, 2024 at 12:38 PM UTC

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High-end supermarket chain Spinneys rose in its Dubai trading debut after a rare private sector initial public offering in the United Arab Emirates. Still, it fell short of the pops investors have become accustomed to in the region.