UAE's Al Ansari Financial Services, which raised 773 million dirhams ($210 million) from the sale of a 10% stake in an IPO, has appointed BHM Capital Financial Services as a liquidity provider for its shares listed on Dubai Financial Market (DFM).

In a regulatory statement on Thursday, the UAE money and exchange company, said BHM Capital will provide liquidity by entering two-way daily quotes into the market trading system in compliance with the regulations set by DFM and the UAE Securities and Commodities Authority (SCA).

Shares of the newly listed company are set to begin trading today.

A liquidity provider buys large volumes of securities from the companies that issue them and then distribute them in batches to financial institutions who then make them available directly to retail investors, according to Investopedia.

(Writing by Brinda Darasha; editing by Seban Scaria)