Dubai, UAE – 14 May 2024: Aramex (DFM: ARMX), a global leader in comprehensive logistics and transportation solutions, announced today that the Company has appointed Arqaam Securities LLC, a leading regional financial institution regulated by the Securities and Commodities Authority (SCA) of the UAE, as Liquidity Provider for its shares listed on the Dubai Financial Market (DFM).
Under the terms of the one-year agreement, Arqaam Securities will begin trading Aramex shares independently, by entering two-way daily quotes into the market trading system within the defined parameters of the mandate, and in compliance with the regulations and controls set by Dubai Financial Market (DFM) and SCA. Arqaam Securities’ ownership of Aramex shares shall not exceed, at any time, 5% (five percent) of the total number of the Company’s listed shares. All regulatory approvals have been secured.
The decision to appoint a licensed liquidity provider as approved by the Board on December 8th, 2023, aims to enhance market liquidity for market participants and to reduce the spread between the bid and ask prices. By engaging a top licensed financial institution to provide liquidity services, Aramex demonstrates its dedication to facilitating smoother trading experiences for investors while reinforcing its position as a responsible and responsive participant in the DFM. Aramex shares have 50% free float and are 100% open to foreign investment. Aramex has two strategic shareholders, with Geopost owning 28% and Abu Dhabi Ports owning 22% in the Company’s shares.
Read more at www.aramex.com