38.5 C
Monday, May 27, 2024

“ADX Collaborates with SIB to Offer Immediate IPO Access”

“Abu Dhabi Securities Exchange (ADX) has joined forces with Sharjah Islamic Bank (SIB) to simplify and enhance investor access to Initial Public Offering (IPO) subscriptions. This partnership entails close cooperation between ADX and SIB to streamline the process of acquiring a National Investor Number (NIN) and establishing trading accounts for the bank’s clients.

Through this new process, SIB’s customers can instantly obtain an NIN and subscribe to UAE IPOs online via ADX’s e-IPO platform, eliminating the need for paperwork.

This collaboration aligns with ADX’s strategy to expand access to its diverse offerings and broaden its investor base through digitalization and technology. Notably, in the first half of 2023, ADX maintained a robust pipeline of IPOs totaling $3.7 billion, representing approximately 75% of the total capital raised through IPOs in the GCC.

Abdulla Salem Alnuaimi, CEO of ADX, expressed his satisfaction with the partnership, emphasizing ADX’s commitment to providing investors with a seamless and convenient investment process.

He highlighted that such collaborations are integral to their strategy in facilitating access to growth opportunities presented by their product range.

Mohamed Abdalla, CEO of Sharjah Islamic Bank, expressed his delight at the collaboration with ADX, a significant player in the global financial and investment landscape. He emphasized their belief in digital trading’s importance and the opportunities it brings to SIB’s customers.

With this partnership, customers can participate in UAE public offerings through mobile and internet banking, aligning with the UAE’s vision for digital transformation in the financial and investment sector.”

Next Article

Related Articles

UAE Revolutionizes Transportation: Abu Dhabi to Dubai in Just 30 Minutes by Flying Taxis

UAE: Soon, travel from Abu Dhabi to Dubai in just 30 minutes by flying taxis In a groundbreaking development for transportation infrastructure, the United Arab...

Etihad Launches Airbus A380 on Abu Dhabi-New York Route

Etihad Airbus A380 Debut: Transforming the Abu Dhabi-New York Route Etihad Airways, one of the leading airlines in the Middle East, has marked a significant...

Abu Dhabi Islamic Bank Maintains Strong Financial Performance in Q1 2024

Abu Dhabi Islamic Bank Continues Strong Performance in Q1 2024 In the fast-paced realm of global finance, few institutions stand out as consistently as Abu...

Abu Dhabi Welcomes World’s First ‘Healthy Living’ Island

Abu Dhabi Welcomes World's First 'Vitality Island' for Healthy Living Abu Dhabi, a global hub of innovation and progress, has once again captured international attention...

NASA’s Revealing Images of UAE’s Flooded Regions Post-Heavy Rains

NASA Unveils Aerial Views of UAE's Flooded Regions A "slow-moving storm" system unleashed unprecedented torrential rains across various parts of the Emirates, inundating the UAE...

Latest Articles