Amid $18 billion surge, Dubai Bank introduces the region’s first IPO subscription app

Liv. The digital bank operated by Emirates NBD pioneers technology by allowing users to subscribe to an IPO straight from an app.
Everything a banking customer needs to subscribe to an IPO can be done directly through the Liv. app, making investments and money management easier than ever before.
Users will be able to register their interest in upcoming IPOs, follow listing dates, subscribe and even make IPO payments inside the app.
A single interface enables completely paperless subscription in just a few clicks, making the process quick and easy.
The app follows the launch of Emirates NBD’s end-to-end IPO subscription website for individual investors earlier this year.
Listings in the Middle East, primarily Riyadh, Abu Dhabi and Dubai, have seen strong investor interest, fetching $18bn this year, representing almost half of the IPO money raised in Europe, the Middle East and Africa.
On launching the app Pedro Sousa Cardoso, Chief Digital Officer, Retail Banking & Wealth Management, Emirates NBD, said: “With financial awareness taking centre stage and the investment landscape ripening, IPOs are becoming a popular investment option among our customer base.
“As a digital bank catering to the digitally savvy population, we at Liv. understand that our customers seek a personalised and custom-built experience for their banking services.
“We are delighted to be the region’s first digital-only bank to provide this service which will enhance our customers’ investment journey and provide a seamless trading experience for UAE investors.”
The app comes as the Middle East, and the UAE in particular, are experiencing something of a boom in initial public offerings.
Abu Dhabi will likely host three more initial public offerings this year and at least 11 in 2023, an official told Bloomberg, “continuing a trend that’s made the Middle East a bright spot in an otherwise dour market for new share sales.”
“Next year, it’s going to be an amazing pipeline,” Mohamed Ali Al Shorafa, chairman of Abu Dhabi’s Department of Economic Development, said and added that “over 11 companies (are) being either advised or in final stages for application approval for the listing on Abu Dhabi stock market.”