How can I buy an IPO in the UAE? You will first need to apply for this number

How can I buy an IPO in the UAE? You will first need to apply for this number

Dubai: The Adnoc Logistics and Services initial public offering (IPO) when it opened its listing on Tuesday, May 16. However, there is still time to subscribe to the Abu Dhabi National Oil Co. (ADNOC) IPO listing on Abu Dhabi Securities Exchange (ADX) as the retail offering will close on May 23. If you want to take advantage of the happening in the UAE, you will first need a National Investor Number (NIN), which is issued by ADX and Dubai Financial Market (DFM). Applying for an investor number can be done online and is issued within minutes. Here is all you need to know. Whether you are a UAE resident or a non-resident foreign investor, as long as you have a NIN or investor number, you can subscribe to an IPO. This is an identification number for investors and is issued free of charge. For IPOs listed on Abu Dhabi’s stock exchange, the number will be issued by ADX for investors. According to ADX, “through this number, all transactions on the Exchange can be initiated including clearing, settlement, and trading transactions”. For Dubai, the investor number is required for subscribing to an IPO of a company on DFM. It is issued