DFM makes unique investor number compulsory for IPOs

The Dubai Financial Market said on Tuesday it has made the unique investor number compulsory for all investors subscribing to an IPO, a move aimed to improve transparency.

“Due to this, investor will get shares of the IPO immediately to his account and, on the day of the listing, he can trade without any additional efforts,” said Mariam Fekri, executive vice-president and chief operations officer of the Dubai Financial Market.

The exchange has already contacted 450,000 investors of a total of 900,000.