RAK Properties picks Arqaam as liquidity provider at ADX
RAK Properties, a leading publicly listed property developer in Ras Al Khaimah, has announced the appointment of Arqaam Securities as the liquidity provider for its shares on the Abu Dhabi Securities Exchange (ADX).
Arqaam Securities is a regional financial institution regulated by the UAE Securities and Commodities Authority (SCA) which will actively manage liquidity for RAK Properties' shares by maintaining two-way quotes within a structured mandate, in addition to initiating research coverage on the company.
The agreement is designed to optimize price discovery and narrow bid-ask spreads, ensuring efficient trading.
Arqaam Securities' ownership in RAK Properties will not exceed 5% of total listed shares, in full compliance with ADX and SCA regulations, it stated.
The appointment, approved by RAK Properties' Board of Directors, is a strategic step to enhance market depth and accessibility for institutional and retail investors, said the Emirati developer in a statement.
With foreign ownership permitted up to 49%, RAK Properties remains committed to fostering an active and liquid trading environment, it stated.
CEO Sameh Muhtadi said: "Ensuring robust market liquidity is central to our commitment to delivering long-term shareholder value. Partnering with Arqaam Securities, a recognized leader in liquidity provision, aligns with our efforts to enhance trading efficiency and market accessibility for investors."
"As increasing numbers of institutional and retail investors look not only to the Emirate of Ras Al Khaimah, but also its major listed entities, it is crucial that we engage with partners who can support our ambitious growth targets," he stated.
Veselin Tilev, Head of Market Making at Arqaam Securities, said: "We appreciate the trust placed in us by RAK Properties and look forward to leveraging our expertise to enhance liquidity and optimize market dynamics on ADX. Our dedicated market-making services are designed to support active and efficient trading, reinforcing investor engagement with RAK Properties' shares."
RAK Properties said it has set out a clear plan for ambitious growth in 2025.
In January it unveiled its masterplan for Mina, the company's flagship destination, for which it has a AED5 billion GDV pipeline to be launched this year. The first two projects within this launch plan, Mirasol and SKAI have been launched to great success in Q1.
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