Emirates NBD takes a lead role in supporting new IPOs

Emirates NBD said on Tuesday that it had taken the lead in supporting 10 upcoming initial public offerings (IPOs) on the Dubai Financial Market (DFM) with the launch of an end-to-end IPO subscription website for individual investors.

The bank’s IPO platform has built-in real-time subscription payment capabilities for UAE investors and wire transfer capabilities for non-UAE investors.

The flurry of IPOs of 10 government-owned companies on the DFM is part of a broader strategy to expand the financial market’s capitalisation to Dh3 trillion. The companies that are expected to be listed on the DFM this year include, apart from Dewa, other state-controlled entities such as Salik, Tecom, Empower, Dubai Duty Free, Jumeirah Group and potentially Emirates Airlines. These new listings in the utilities, hospitality, and logistics sector will provide much-needed diversification, according to analysts.

The newly launched website will enhance the IPO subscription facility for a wider investor base across the UAE and overseas, beyond existing Emirates NBD customers. The investor 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 more importantly, the ability to complete their payment journey on the website itself.

“This is an exciting time for the UAE markets with multiple developments coming together to create a favourable 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 enhance an individual’s investment journey from subscription to payment,” said Ahmed Al Qassim, group head, Corporate and Institutional Banking at Emirates NBD.

He said the bank is the first in the UAE to collaborate with DFM to facilitate real-time investor and trading account number creation for UAE investors.

“This is a key milestone of our ongoing commitment to creating a seamless trading experience for UAE investors. Through such initiatives, we remain committed to supporting the UAE’s vision of building a strong infrastructure for its capital markets and investors.”

Hamed Ali, CEO of DFM and Nasdaq Dubai, said digital transformation is integral in DFM’s extensive efforts to enhance market access and streamline the investors’ onboarding experience. He said the DFM’s extensive investment in numerous innovative connectivity solutions and enhancements has enabled our trading members to play an active role in onboarding new investors, in preparation for the expected IPOs and increase in activity on the market.

"These efforts increased new DFM Investor Numbers by 100 per cent during 2021, of which 63 per cent are foreign investors, an achievement that provides us with a strong foundation for further successes in cooperation with Emirates NBD Securities and other leading technology-driven members,” Ali said.

— issacjohn@khaleejtimes.com