Abu Dhabi – Mubasher: Foodco National Foodstuff, a subsidiary of Foodco Holding, has appointed Al Ramz Capital as a liquidity provider for its shares.
This decision was made following the approval of the Abu Dhabi Securities Exchange (ADX), according to a press release on Wednesday.
Effective from 13 January 2021, Al Ramz will trade independently of Foodco in accordance with certain measures and regulatory requirements.
A liquidity provider enables a publicly listed company to enhance the liquidity of its shares by decreasing the bid/ask spread, populating the order book on the shares, reducing volatility, and improving shareholder value.
The Chairman of Foodco Holding Company, Ahmed bin Ali Khalfan Al Mutawa Al Dhaheri, commented: "This appointment is a testimony of our commitment to creating value for our shareholders from the first day of listing the share in ADX."
Meanwhile, the Managing Director of Al Ramz Corporation Investment and Development, Mohamamd Al Mortada Al Dandashi, remarked: "Al Ramz Capital continues to grow its liquidity providing portfolio while continuing to build a reputable and leading track records in this domain."
