SHUAA Capital, through its subsidiary SHUAA Capital International (SHUAA), has been appointed to act as market maker for Orascom Construction (OC) on NASDAQ Dubai. The share started trading on NASDAQ Dubai on Monday 9 March 2015 under the symbol ‟OC", and is dually listed on the Egypt Stock Exchange (EGX) and NASDAQ Dubai. By acting as a market maker, SHUAA will enhance liquidity on OC and help maintain tight spreads and liquidity on the shares.
Magdi Shannon, Head of Equity Trading, SHUAA Capital commented: "OC is a well-known international company with excellent fundamentals and the investor community has responded well to their first week of trading on NASDAQ Dubai with relatively high trading volumes.
"Over the last year, we have enhanced our capabilities as market makers via the implementation of a new state of the art trading platform. There are a large number of fundamentally strong companies out there that suffer from barriers to trading resulting in low trading volume. The introduction of market makers to the UAE markets will result in narrowing spreads and increased liquidity and give these companies the visibility they deserve. We look forward to playing a key role in enhancing liquidity across UAE markets."
SHUAA was the first market maker on NASDAQ Dubai and currently provides this service to three stocks: DP World, Emirates REIT and OC. The Company has a state-of-the-art trading platform, SunGard's Front Arena, in place which will enable it to provide market making activities among other capital markets trading services and solutions.
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SHUAA Capital psc
('SHUAA') offers client-centric, fully integrated financial services. SHUAA, headquartered in Dubai, United Arab Emirates, services corporate and institutional clients as well as family businesses and high-net-worth-individuals with expertise in the areas of asset management, investment banking advisory services, capital markets and credit. SHUAA was established in 1979 by Emiri decree No. 6. SHUAA is a public shareholding company, regulated as a financial investment company by the UAE Central Bank, and its stocks are listed on the Dubai Financial Market. www.shuaa.com
For further information please contact:
Brunswick Gulf
+971 4 446 6270
shuaa@brunswickgroup.com
© Press Release 2015
