Ras Al Khaimah Cement Company (RAK Cement) has appointed Al Ramz Capital, a subsidiary of Al-Ramz Corporation Investment and Development, as a Liquidity Provider.
RAK Cement took the decision after receiving the approval of the Abu Dhabi Securities Exchange (ADX), according to the ADX’s statement on Sunday.
Under the agreement, Al Ramz Capital will enhance the liquidity of RAK Cement’s 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,” the statement said.
Accordingly, this will reduce volatility and enhance shareholder value by promoting orderly markets on the trading of the shares.
“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,” Khalifa Al Mansouri, acting as CEO of ADX, commented on the deal.