“The UAE has seen a boom in IPOs since last year, and we’re pleased to be among the very few offering our clients access to these opportunities.”
ICM.com is offering its clients exclusive access to the initial public offering (IPO) of Al Ansari Financial Services, one of the largest foreign exchange and remittance companies in the United Arab Emirates.
Set to launch on the Dubai Financial Market, the IPO will see Al Ansari Financial Services floating a 10% stake equivalent to 750 million shares.
Al Ansari reported a net profit of $162 million in 2022
Shoaib Abedi, Chief Executive Officer of ICM.com, said: “We are delighted to add the Al Ansari IPO to our platform, offering our global investors the chance to invest in this respected company. As the leading investment service provider, we are committed to providing our clients with the best investment opportunities in the market. The UAE has seen a boom in IPOs since last year, and we’re pleased to be among the very few offering our clients access to these opportunities.”
Al Ansari Financial Services is a well-established exchange house in the UAE, with over 200 branches across the country and operations in 30+ countries.
The company is known for providing reliable foreign exchange and remittance services and has won several awards for its commitment to excellence and innovation. The firm made a net profit of 595 million dirhams ($162.01 million) last year, up from AED491 million in 2021.
Investors can leverage ICM.com to subscribe to the IPO without the hassle of applying for a NIN number nor to adhere to a minimum subscription requirement.
The ICM Securities platform gives investors access to a wide variety of investing in different asset classes and better diversify their risk exposure. The platform also provides market analysis tools, expert insights, and educational tools.
ICM.com provides access to major stock exchanges as well as MENA region venues
ICM.com’s online investment stocks platform offers access to all the major global stock exchanges as well as a variety of smaller MENA region exchanges such as the Saudi exchange and Nasdaq Dubai.
In late 2021, the multi-regulated firm secured approvals from the Qatar Financial Centre (QFC) after it has incorporated its new subsidiary ICM LLC (Qatar), taking up premises in Tornado Tower, an iconic skyscraper in the heart of Doha’s premier business district.
The QFC, while running parallel to the existing framework in Qatar, is an onshore regime that operates within its own legal, tax and regulatory framework. The centre has its own civil and commercial courts, as well as an independent regulatory tribunal. QFC-established firms can be 100% foreign owned and are not subject to currency restrictions and can repatriate 100% of profits.
This new license will allow ICM.com to provide its range of FX and CFDs products to retail and professional clients not only from Qatar but also to expand the offering to the other GCC states, meaning Bahrain, Kuwait, Oman, UAE, Saudi Arabia and North Africa.