How to apply for an IPO in the UAE

• Individuals named as eligible in the prospectus for the first tranche. Recent DFM and ADX offers admitted UAE residents of any nationality and GCC individuals.
• Non-resident individuals are eligible for a DFM investor number and have been admitted in many recent offers, but each prospectus sets its own eligibility; we verify this offer by offer.
• US persons were excluded from recent offers under Regulation S wording. Check the specific prospectus.

• A DFM or ADX investor number (NIN). It is free, issued instantly in the DFM or iVestor app with a passport or Emirates ID, and the same NIN is reused across offers.
• A way to pay: on the DFM IPO platform that is an iVestor Card, the UAE Central Bank payment gateway or a direct bank transfer; through a bank it is an account with a receiving bank named in the prospectus.
• A brokerage account with a CMA-licensed (formerly SCA) broker is not required to apply but is required to trade the shares after listing.
• Emirates ID for residents; passport for non-residents, subject to the channel's onboarding.

• DFM IPO platform on dfm.ae, for DFM-listed offers that opt in. Applications close at 2 pm UAE time on the day before the final subscription day.
• DFM app and iVestor app, which carry the same platform and let you obtain the NIN in the same session.
• Receiving banks (branch, mobile app or e-subscription). Each offer names them in the prospectus; several offer IPO financing.
• CMA-licensed brokers on DFM or ADX, where the prospectus lists them as a channel.
• ADX offers use the ADX channels and receiving banks named in that prospectus; the DFM platform does not carry ADX offers.

Each IPO page lists the channels confirmed for that specific issue, with their own deadlines, minimums and evidence dates. Paid placements never affect what appears there.

1. 1

   Get or confirm your NIN

   Open the DFM or iVestor app, register with your passport or Emirates ID and the investor number is issued immediately and free of charge. ADX issues its own NIN through Sahmi. Keep the number; it is needed for every application.

2. 2

   Read the prospectus eligibility section

   The first tranche's eligible subscribers, minimum subscription, receiving banks and the subscription period are listed there. The DFM IPO page for the offer links the prospectus.

3. 3

   Choose a channel and subscribe

   On the DFM platform or app, select the offer, enter the amount and pay by iVestor Card, the Central Bank gateway or direct transfer. Through a bank, use its app or branch with your NIN. Submit before the channel's own cut-off.

4. 4

   Optional: IPO financing

   Mbank has offered an IPO upgrade of 1x to 5x your subscription on selected DFM offers through the platform; receiving banks offer their own leverage. These are credit products with fees and are never required to apply.

5. 5

   Allocation and refund

   Oversubscribed retail tranches are allocated pro rata or by the method in the prospectus. Excess money is refunded to the account or card you paid from, within the timetable the prospectus states.

6. 6

   Listing and trading

   Shares are credited to your NIN before the listing date. To sell them, or to buy more, you need an account with a CMA-licensed broker linked to that NIN. Compare brokers in our UAE directory.

1. Announcement of intention to float

   Usually one to two weeks before the subscription period.

2. Subscription period

   Typically about a week for the retail tranche; institutional books close a day later.

3. DFM platform cut-off

   2 pm UAE time on the day before the final subscription day. Bank and broker cut-offs are set by each provider.

4. Final price and allocation

   Published after the books close, followed by refunds of excess subscription money.

5. Listing

   Normally within two weeks of the close.

Provider deadlines (a bank's or broker's cut-off) are often earlier than the issuer close. Each IPO page shows both separately.

• The DFM platform closes a day earlier than the issuer's final day (2 pm the day before). Receiving banks have their own cut-offs too, often earlier than the issuer's close.
• Leverage or an IPO upgrade is a bank credit product with fees; it is never required to apply and scaled-back allocations can leave you paying for financing you did not use.
• The NIN does not open a trading account anywhere. Applying through the platform or a bank gets you the shares, not a way to sell them; that needs a CMA-licensed broker.
• Retail tranches in large offers are heavily oversubscribed; expect scaled-back allocations.
• The DFM platform only carries DFM offers that opt in; ADX offers run through ADX channels and receiving banks.

• DFM IPO platform, iVestor app and investor number guides
• ADX IPO information
• UAE Capital Market Authority (formerly SCA)

Checked by the BrokerBazaar IPO desk on 2026-10-05; next scheduled review 2027-01-05. This guide describes documented procedures and eligibility. It is not investment, legal or tax advice, and BrokerBazaar does not take applications or money.