DFM’s “eIPO” Platform gains popularity amongst investors

April 23, 2014 3:27 pm

Dubai Financial Market (DFM) announced that its “eIPO” platform, the sophisticated and efficient solution for IPO subscription directly linked with the receiving banks, is witnessing enormous turnout from investors in the UAE and various other countries in the region and beyond since the launch of the Marka (Public Joint Stock Company under formation) initial public offering (IPO). Marka is the first issuer to utilize the platform.

Investors are particularly attracted to the platform thanks to its various features and benefits including the ability to swiftly submit their IPO subscriptions as well as easy access to information about the issuer.

Since the launch of the Marka IPO, numerous investors have successfully filled in and submitted their applications as well as paid the required amounts through the DFM (eIPO) Platform. As well as UAE nationals, the list of subscribers includes investors from GCC, Arab and other countries. Investors looking to take part in IPOs through the platform have also submitted large number of queries.

Ali Al Hashimi, Executive Vice President, Head of Financial Services Division, DFM, said: “This smart platform, the first of its kind amongst regional financial markets, enables investors to easily subscribe to IPOs through direct connectivity with the receiving banks by completing the online application as well as safely paying the subscription amount via IVESTOR Card. The platform also speeds up the refund of excess funds, the allotment and the listing. This innovative payment solution developed by DFM will save time and effort, decrease any risk of mistakes and ensure information accuracy, as well as offer potential investors the opportunity to view the IPO prospectus and summary in addition to the articles of association of the offering company”.

“This electronic and smart platform enables receiving banks to effectively process IPOs without the need to involve a large number of employees in comparison to the past. By connecting with the platform, clients of receiving banks can easily subscribe and pay the amounts due via a variety of channels including: online, direct debit from a bank account, ATMs and smart phone applications.”

“A Mystery Shopping campaign that we have implemented over the last few days has shown that investors are warmly welcoming the platform features particularly in regards to the ease of IPO subscription, which will gradually eliminate the lengthy queues of the past at bank branches as well as allow non-resident investors easy access to IPOs as they are no longer have to personally travel to the UAE to take part,” Al Hashimi added.

Key benefits of the platform:
• The online subscription saves the time and effort
• Payment of IPO necessary funds through IVESTOR Card
• Swift refund of excess amounts to the IVESTOR Card account
• Concluding allotment, listing and trading within short period of time
• Decreasing mistakes and ensuring information accuracy
• Access various IPO-related information

Two necessary steps to access the platform:
• Obtain IVESTOR Card
• Subscribe to the DFM e-services

For further information, please contact:
Atef Fathy
Vice President – Head of Media & Public Relations
Dubai Financial Market
Tel: 04-3055334