Abu Dhabi: Al Ramz Capital, a subsidiary of Al-Ramz Corporation Investment and Development PJSC, has been appointed as a Liquidity Provider for Ras Al Khaimah Cement Company Shares after obtaining the approval of Abu Dhabi Securities Exchange. It is worthy to note that this is the third liquidity provider agreement that ADX hosts.
A Liquidity Provider is appointed by a publicly listed company to enhance the liquidity of its shares by reducing the bid/ask spread and maintaining a consistent presence on the shares. This allows sellers and buyers to find orders on the order book on a consistent basis to meet their liquidity needs. This will in turn reduce volatility and enhance shareholder value by promoting orderly markets on the trading of the shares. As a licensed active market maker on DFM, ADX and Nasdaq Dubai, Al Ramz brings over 20 years’ experience in the UAE Capital markets to offer this valuable service offering.
On this occasion, H.E. Khalifa Al Mansouri, Acting Chief Executive of ADX, said: “We are happy to welcome Al Ramz Capital as a liquidity provider in Abu Dhabi Securities Exchange. We are confident that having Al Ramz as a liquidity provider will add quality to market transactions in the coming period. Giving Al Ramz the liquidity provision license adds to the achievements of ADX, the last one being the initiation of technical short selling service, which ADX was the first financial market in the region to launch. The launched services meet the Exchange’s disclosure and transparency requirements and guarantee the delivery of information to shareholders and investors directly in a short period. The variety of services that ADX has to offer adds to market depth and to ability of creating a more competitive market. ADX is committed to Abu Dhabi’s development plan through expanding the variety of services offered, improving the financial sector in the emirate, and creating a competitive business environment in Abu Dhabi.”
Mr. Ahmad Ali Al Nuaimi, General Manager of RAKCC stated “We are pleased to appoint Al Ramz Capital as Liquidity Provider, we are confident Al Ramz exceptional financial expertise and technological tools will deliver our objectives to our shareholders. We would like to thank the ADX for granting us this tool to enhance the trading on our shares and add value to our shareholders. This is another great advancement in promoting the UAE capital markets and keep them competitive globally."
"We are very happy to have been appointed by Ras Al Khaimah Cement Company as Liquidity Provider. RAKCC is joining a growing group of listed companies in the UAE taking advantage of this service offering in the UAE capital markets. The shareholders of RAKCC will be pleased to know that their company is ensuring orderly markets on its shares enhancing liquidity and therefore enhancing shareholder value." commented Mr. Ayman Ghoneim, Chief Operating Officer of Al Ramz Capital.
About ADX:
Abu Dhabi Securities Exchange (ADX) was established on November 15 of the year 2000 by Local Law No. (3) Of 2000, the provisions of which vest the market with a legal entity of autonomous status, independent finance and management. The Law also provides ADX with the necessary supervisory and executive powers to exercise its functions.
ADX is a market for trading securities; including shares issued by public joint stock companies, bonds issued by governments or corporations, exchange-traded funds, and any other financial instruments approved by the UAE Securities and Commodities Authority (SCA).
In 2014, ADX was upgraded to ‘Emerging Market’ status by both MSCI and S&P Dow Jones. ADX was already classified as an Emerging Market by FTSE in 2009 and in 2011 by S&P and Russell Investments.
For more information, please contact:
Abdulrahman Saleh ALKhateeb, Manager of Corporate Communication & Digital Marketing
Marketing & Corporate Communication Department, Tel: 00971 (2) 6128774
Mobile: 00971 (50) 6689733 Email: ALKhateebA@adx.ae
About Al Ramz:
Al Ramz Capital LLC is a wholly owned subsidiary of Al Ramz Corporation Investment and Development PJSC is a Dubai Financial Market listed company. Al Ramz offers a variety of financial products and services including asset management, corporate finance, market making, liquidity providing, brokerage, IPO management and research.
For more information:
Please contact Dr. Fady Kayyal | Legal Counsel |
Phone: +971 26262626 |
E-mail: fady@alramz.ae
About RAKCC:
Ras Al Khaimah Cement Company was established in 1995 as part of the continuing economic and social development policy being implemented by the Emirate of Ras Al Khaimah. The company is proud of its commitment to create a world class manufacturing plant for the economy and the people of the United Arab Emirates, RAKCC plant is connected to a terminal inside the adjacent Saqr Port, it has the capacity to load ships up to 40,000 dwt, in a minimum amount of time. The company has been instrumental in providing environmental care and protection to the surrounding community by applying the most stringent standards in dust and gas control within the plant.
For more information please contact
Amr Mohammed| Finance Manager| 050 1997281
Shamma Saleh | Investors Relation | 050 3833834
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