London, UK – Thursday, October 27, 2022: ICM.com, the global online trading, and financial service provider, announced it will be providing investors the chance to subscribe to Empower IPO - the world’s largest district cooling services provider, via its ICM Securities platform.
Earlier on Monday, Emirates Central Cooling Systems Corporation (Empower) announced its intention to proceed with an initial public offering (IPO) and to list 10% of its shares for trading on the Dubai Financial Market (“DFM”). One billion shares, each with a nominal value of AED0.10 will be made available in the Offering.
ICM.com opens the subscription period on 31st October 2022 and is expected to close on 7th November 2022 for Retail Investors and on 8th November 2022 for Qualified Investors.
ICM Securities offers investors the chance to subscribe seamlessly to Empower IPO without the need for a DFM Investor Number (NIN), nor a minimum requirement.
Empower expects to pay a minimum dividend amount of AED850 million per annum, in the first two fiscal years, after which the Company expects to pay a sustainable dividend in line with the growth of the business.
Earlier, ICM.com offered subscriptions to Salik IPO, DEWA IPO, and TECOM IPO, to support local and global investors by providing the best opportunities for portfolio diversification.
Apart from Empower IPO, ICM Securities offers access to a broad range of stocks from US, European, and MENA region stock exchanges. Arab exchanges include the Abu Dhabi Stock Exchange, Dubai Financial Market, Nasdaq Dubai, Boursa Kuwait, Muscat and much more.
“At ICM, we are always keen on providing the best and most innovative investment opportunities to our clients. Despite the global slowdown in IPO activity, the UAE IPO market has been shining throughout 2022, and ICM is glad to be one of the pioneers in the market to offer its clients the opportunity to take part in these IPOs.” commented Shoaib Abedi, Founder and CEO of ICM.com