Kamco Invest launches web-based subscription platform – iktatib.com
By Edil Corneille
Kuwait-based Kamco Invest, a regional non-banking financial powerhouse, announced the launch of iktatib.com, a new web-based subscription platform connecting investors with equity offerings and debt issuances managed by Kamco Invest.
iktatib.com will provide registered investors access to subscriptions they are eligible to participate in. It will list initial public offerings, rights issues, bond and sukuk offerings, as well as other investment opportunities managed by Investment Banking at Kamco Invest. Gulf Insurance Group’s (GINS.KW) capital increase was the first transaction to use this platform.
The platform improves the investment experience and increases chances of success by reducing the burden on investors as it is a fully digital subscription process without the need to appear in person and sign physical documents.
A calendar reminder feature has been incorporated into the platform to notify interested investors once they reach closer to the end of the transaction period. The platform is also said to be ideal for investors outside the country to ensure timely access to investment opportunities. There are several payment methods available for users including executing transactions through the integrated Knet payment portal and wire transfers.
Given the recent upgrade of the Kuwaiti market to an emerging market and the exposure international investors have on local equities, this platform will provide these investors the opportunity to participate in any right issues.
Abdullah AlSharekh, Managing Director of Markets and Investment Banking at Kamco Invest said, “The platform will serve as a gateway to connect investors with opportunities managed by Kamco Invest. Our primary goal when developing “iktatib.com” was to focus on a simple, user-friendly, fast, and reliable solution to streamline and automize the subscription process for a range of capital market products.”
AlSharekh added, “The platform was successfully used in the recent Gulf Insurance capital increase and has received positive feedback from the issuing company as well as subscribers. We will continue to use this platform to showcase our upcoming deals while simultaneously upgrading the user experience and developing value adding features. The platform supports the strategic approach behind Kamco Invest’s digital transformation program, a program that aims to digitize the client journey by integrating new technologies and platforms to the Company’s suite of offerings.”
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