London, UK – Wednesday, June 15, 2022: ICM.com, a leading online trading and financial service provider, today announced the opening of subscriptions for shares in Tecom groups’ IPO, via their ICM Securities platform.
TECOM Group are the owners of 10 business districts across Dubai including Dubai Internet City and Dubai Media City. The business clusters are home to offices, Co-working spaces, and warehouses which are leased to over 6000 companies from startups to international corporations. The clusters also provide industry-specific facilities including laboratories, media production studios, and higher education campuses.
The company is currently up for IPO with subscriptions opening on the 16th of June and closing on the 23rd. Tecom plans to sell 12.5 percent of the company as 625 million shares with the price announced on the 16th of June. Subscribing to Tecom’s IPO does not mean you have to purchase shares once the price is released. As a online trading platform, ICM offers a smooth process with no minimum requirement and no investor number needed.
Tecom group was founded in 2005 and is a subsidiary of Dubai Holdings which is owned by the government of Dubai. The buildings offer a diverse range of high-quality facilities and are largely positioned in prime areas of Dubai. Tecom group’s financial profile is attractive with the company announcing revenue of Dh485 million in the first quarter of this year. The company is offering a generous dividend policy with plans to pay out over Dh 800 million.
Tecom group will be offered on the Dubai Financial Market exchange on July 5th. ICM.com are taking subscriptions via their securities platform. ICM Securities is a secure, online investment stocks platform that 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.
‘ICM has always had a strong presence in the MENA region and we’re thrilled to be offering this opportunity to both new clients and our existing investors. The UAE is a thriving economy and currently the forefront of the IPO market.’ Shoaib Abedi, Founder, and CEO of ICM.com