Aramex, listed on the Dubai Financial Market, announced today, Wednesday, the appointment of Arqaam Securities as a liquidity provider for its shares listed on the Dubai Financial Market.
Aramex said in a statement that under the terms of the one-year agreement, Arqaam Securities will begin trading Aramex shares independently by submitting two-way quotes within the market’s trading system in accordance with the specified authorization criteria.
These standards include that Arqaam Securities’ ownership shall not exceed, at any time, 5 percent of the total number of Aramex shares listed on the market, within the framework of the regulations and controls of the Dubai Financial Market and the Securities and Commodities Authority.
Aramex explained that all regulatory approvals have been obtained, noting that the decision to appoint a licensed liquidity provider comes in accordance with what was approved by the Board of Directors on December 8, 2023; with the aim of enhancing liquidity for market participants and reducing the spread between bid and ask prices.
It is noteworthy that Aramex shares allow 50% free trading and are 100% available for foreign investment to expand its portfolio of strategic shareholders, as GeoPost owns 28% and Abu Dhabi Ports owns 22% of Aramex shares.
