Mashreq Bank to support upcoming IPOs subscription on DFM

Mashreq Bank to support upcoming IPOs subscription on DFM

Mashreq Bank, one of the leading financial institutions in the UAE, will be offering its retail customers the opportunity to subscribe to upcoming initial public offerings (IPOs) on Dubai Financial Market (DFM) through the Mashreq mobile banking app and online banking platform.

Hamed Ali, CEO of DFM and Nasdaq Dubai, said: “DFM’s ultimate objective is to put market services at the fingertips of investors so that they can seamlessly participate in the upcoming IPOs anytime anywhere. We are pleased to see this commitment from Mashreq Bank to facilitate the subscription process, which clearly indicates the importance of concerted efforts between DFM and leading financial institutions to strengthen digital transformation in Dubai and advance investors’ experience to new heights.”

This new initiative launched by Mashreq comes as Dubai prepares to publicly list 10 government-owned companies on the DFM, as announced by Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance and Chairman of the Higher Committee for the Development of Financial Markets in Dubai, with the aim of expanding the financial market’s capitalization to Dh3 trillion ($816.8 billion).