UAE's Al Ramz purchases 8mln shares in subscribed capital

The transaction was executed through Al Ramz Capital

An investor uses his mobile phone at the Dubai Financial Market.

An investor uses his mobile phone at the Dubai Financial Market.

REUTERS/Mosab Omar
Dubai –  Al Ramz Corporation Investment and Development has purchased 7.83 million shares, representing 1.4% of the subscribed capital.

Executed through the broker Al Ramz Capital, the transaction has a price of AED 0.55 per share, according to the company's disclosure to the Dubai Financial Market (DFM) on Monday.

Hence, the total number of shares purchased by the company recorded 16.72 million, accounting for 3% of the subscribed capital.

Meanwhile, the remaining shares to be bought as per the approval of the Securities and Commodities Authority (SCA) reach 29.38 million.

Source: Mubasher

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