Spinneys is one of the most well-known supermarket chains in the Middle East, particularly in the UAE, where it offers a wide range of high-quality groceries, fresh produce, and household products. Founded in 1924, Spinneys has grown to become a trusted name in retail, known for its premium offerings and excellent customer service. The supermarket chain caters to a diverse customer base, providing a mix of local and imported products to meet the needs of the region’s growing population. In 2024, Spinneys is expected to launch its IPO on the Dubai Financial Market (DFM), with a planned raise of $376 million. This IPO will allow investors to participate in the growth of one of the UAE’s most established and successful retail brands.
The Spinneys IPO is likely to generate significant interest from investors looking to gain exposure to the retail and FMCG (fast-moving consumer goods) sectors. With its strong market presence, loyal customer base, and plans for expansion, Spinneys offers a stable investment opportunity in a fast-growing market. As the UAE’s population and demand for high-quality retail experiences continue to rise, Spinneys is well-positioned for future growth.
IPOs are risky investments. If you want to invest in one, make sure you are well-informed.
If you would like to take a step back and read about how to buy shares online, click here.
Top broker for buying Spinneys shares
1. eToro – Best Crypto Exchange for Beginners
Min Deposit: $100
Fees: 4.8
Assets available: 4.8
Total Fees:
51% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
eToro is a popular investment platform in the UAE, offering access to IPOs with a simple and user-friendly interface. It allows investors to participate in newly listed companies with fractional shares, making it accessible to those with smaller capital. The platform provides access to global markets, making it a convenient option for UAE investors interested in diversifying their portfolios with IPO investments.
51% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Fees for trading Spinneys stocks
Let’s take a look at the fees for trading Spinneys shares at our recommended brokers. You have to count with different kinds of fees when you are trading with Spinneys shares.
Commission is a fee, based on the traded volume or a flat fee per trade. For example, 0.1% of €10,000, $5/trade, or $0.005/share. Needless to say, these are different at each broker.
Let’s see the fees of trading with Spinneys shares at our recommended broker eToro.
| Fee Type | Amount | Details |
|---|---|---|
| Commission on Stocks | $0.00 | No commission for buying non-leveraged stocks, including IPOs |
| Spread (CFDs) | Varies | Charged based on the difference between buy/sell prices |
| Currency Conversion Fee | 0.5% | Applied to non-USD deposits/withdrawals |
| Withdrawal Fee | $5 per withdrawal | Fixed fee for each withdrawal from the account |
| Inactivity Fee | $10/month | Applied after 12 months of inactivity |
| Overnight/Weekend Fees | Varies (x3 on weekends) | Charged on open CFD positions |
Conclusion
In conclusion, you can purchase Spinneys stock once trading begins. Here are four simple steps to follow:
- Choose a broker
- Set up your account
- Add funds to the account
- Purchase the stock
Although it may seem complicated, just break it down into manageable steps. Keep in mind that opening and funding an account can take some time, so it’s smart to plan ahead if you want to trade Spinneys shares on the first day.
For more information on IPOs, take a look at our article on IPO investing. If you’re still uncertain, try our broker selector tool to help you choose the right online broker for your needs.
For more information on IPOs, take a look at our article on IPO investing.
If you’re still uncertain, try our broker selector tool to help you choose the right online broker for your needs.