DUBAI: Foodco National Foodstuff PJSC, a subsidiary of Foodco Holding PJSC, appointed Al Ramz Capital LLC as a liquidity provider for its shares following the approval of Abu Dhabi Securities Exchange.
Al Ramz will trade independently of Foodco within defined parameters of a mandate and in accordance with regulatory requirements commencing 13 January 2021. 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 is achieved by populating the order book on the shares allowing both, sellers and buyers, to transact with minimal cost which in turn reduces volatility and enhances shareholder value. Al Ramz is a licensed market maker on DFM, ADX and Nasdaq Dubai with over 20 years’ experience in the capital markets of the UAE.
Ahmed bin Ali Khalfan Al Mutawa Al Dhaheri, Chairman of Foodco Holding Company said: “This appointment is a testimony of our commitment to creating value for our shareholders from the first day of listing the share in ADX.
The appointment will maintain the liquidity of Foodco shares and support shareholder value by reducing the impact of volatility and improve trading parameters for existing and potential investors, appointing Al Ramz is based on the company’s reputation and track record in this field.”
“We are pleased that our subsidiary, Al Ramz Capital, have been appointed as Liquidity Provider for Foodco, one of the prominent companies in UAE in the supply and distribution of foodstuffs and consumers goods and logistical services. Al Ramz Capital continues to grow its liquidity providing portfolio while continuing to build a reputable and leading track records in this domain.”
Founded in 1998, AI Ramz is a UAE domiciled public joint stock company listed on the Dubai Financial Market and regulated by the UAE Securities and Commodities Authority and the Dubai Financial Services Authority. www.alramz.ae
Foodco National Foodstuff Company PJSC (Foodco), a subsidiary of Foodco Holding Company PJSC. A company listed on the Abu Dhabi Stock Exchange, established in 1979.
The main activities of Foodco Holding and its subsidiaries are investments in the development and management of real estate and investment in securities in addition to importing and distributing foodstuffs and consumer goods and providing all logistical services, its one of the oldest high quality foodstuff trading companies at competitive prices in the United Arab Emirates, in addition to being one of the major providers of 3PL services, such as integrated operation, transportation and storage services, which are designed according to customer needs according to market conditions and have enormous logistical capabilities and expertise. www.foodco-uae.co