Abu Dhabi – Mubasher: ADNOC Drilling Company has appointed Al Ramz Capital, a subsidiary of Al Ramz Corporation Investment and Development, as a liquidity provider for the company’s shares listed on the Abu Dhabi Securities Exchange (ADX).
Under the one-year agreement, Al Ramz Capital will start trading ADNOC Drilling's shares independently and providing liquidity for its shares by offering simultaneous buy and sell orders on the ADX, according to a bourse filing.
The agreement is set to enhance liquidity and trading efficiency for ADNOC Drilling's shareholders in the market.
It is worth noting that ADNOC Drilling posted a net profit of $274.61 million in the first quarter (Q1) of 2024, up from $218.68 million in Q1-23.
