Dubai’s largest bank, Emirates NBD, has taken the lead in supporting forthcoming IPOs on the Dubai Financial Market (DFM) with the launch of an end-to-end offering for investors.
The initiative comes in line with 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, of listing 10 state-owned companies on the DFM as part of a broader expansion strategy of capitalization to AED 3 trillion (US$816.8 billion).
Emirates NBD said its IPO platform has built-in real-time subscription payment capabilities for UAE investors and remittance capabilities for non-UAE investors.
The bank added that the newly launched website will “enhance IPO subscription opportunity for a broader investor base in the UAE and overseas beyond Emirates’ existing NBD clients.”
The website will support investors’ journey at every step, from allowing interested parties to register their interest in upcoming IPOs to providing information related to the IPO, key highlights of the organization, listing dates and various subscription opportunities as well the ability to complete their payment journey.
The interface enables paperless subscription in five easy steps, making the process simpler and paperless, the bank said.
It will be the first in the region to provide new investors with a real-time DFM Investor Number (NIN) and trading account number 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 converging to create a favorable atmosphere for IPOs.
“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 improve an individual’s investment journey from subscription to payment.
“This is an important milestone in our ongoing commitment to create a seamless trading experience for UAE investors. Through such initiatives, we remain committed to supporting the UAE’s vision to build a strong infrastructure for its capital markets and investors.”
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