Dubai’s largest bank, Emirates NBD, has taken the lead in supporting upcoming IPOs on the Dubai Financial Market (DFM) with the launch of an end-to-end for investors.
The initiative is aligned to the recent announcement by Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance of the UAE on the listing of 10 government-owned companies on the DFM as part of a broader strategy to expand its capitalisation to AED3 trillion ($816.8 billion).
Emirates NBD said its IPO platform has built-in real time subscription payment capabilities for UAE investors and wire transfer capabilities for non-UAE investors.
The bank added that the newly launched website will “enhance IPO subscription facility for a wider investor base across the UAE and overseas, beyond existing Emirates NBD customers”.
The website will support investors’ journey at every step, from enabling prospects to register their interest for upcoming IPOs to providing information related to the IPO, key highlights about the organisation, listing dates and different ways to subscribe and the ability to complete their payment journey.
The interface enables paperless subscription in five simple steps making the process simpler and paperless, the bank said.
It will be the first in the region to provide new investors with a DFM investor number (NIN) and trading account number on a real-time basis through a strategic collaboration between Emirates NBD Securities and DFM.
Ahmed Al Qassim, group head, Corporate and Institutional Banking at Emirates NBD, said: “This is an exciting time for the UAE markets with multiple developments coming together to create a favourable atmosphere for initial public offerings.
“Emirates NBD Group is pleased to support this momentum by taking the lead in expanding the investor base through a fully digital platform that will enhance an individual’s investment journey from subscription to payment.
“This is a key milestone of our ongoing commitment to create a seamless trading experience for UAE investors. Through such initiatives, we remain committed to supporting the UAE’s vision of building strong infrastructure for its capital markets and investors.”
Follow us on
