Release Date: 16 January 2024
RAK Properties PJSC, (ADX: RAKPROP), Ras Al Khaimah’s pioneering publicly listed property developer, has appointed BHM Capital, a leading financial institution as Liquidity Provider for the shares of the Company. This move is aimed at enhancing trading liquidity, increasing transactional efficiency for the developer’s shares on the Abu Dhabi Securities Exchange (ADX).
Sameh Muhtadi, CEO of RAK Properties, commented “The appointment of BHM Capital as our new liquidity provider underscores our commitment to offer a reliable foundation for our investors, fostering an environment of confidence and assurance within the market, while paving the way for long term growth opportunities. This partnership will facilitate access for regional and international investors to easily participate and engage with our stock, diversifying our investor base while solidifying our market presence. We have been impressed by the commitment and expertise demonstrated and look forward to a long-term collaboration to further evolve and advance capital market practices.”
Under the terms of the agreement, BHM Capital will ensure liquidity for RAK Properties’ shares by actively participating in the market trading system in compliance with the regulations set by the ADX and the UAE Securities and Commodities Authority (SCA).
Abdel Hadi Al Sa’di, the CEO of BHM Capital, stated: “Through our appointment as the liquidity provider on RAK Properties’ shares, we aim to enhance price stability, attracting a broader range of investors to trade in company’s shares, and increasing its turnover. This in turn, is expected to enhance its market value by injecting new investments, and contributes in stimulating the financial markets and increasing the appeal of listed companies.”
Al Sa’adi expressed his appreciation for the trust of His Excellency Abdulaziz Abdullah Al Zaabi, the Chairman of RAK Properties, Sameh Al Muhtadi, the CEO of RAK Properties, and the members of the board for choosing BHM Capital as their liquidity provider. He believes that this choice will lead to better performance for the company’s stock on the Abu Dhabi Securities Exchange in the upcoming period.
BHM Capital is a leading private joint stock company listed in the Dubai Financial Market (DFM) and regulated by the UAE Securities and Commodities Authority providing services to individual and corporate investors. Their involvement is expected to strengthen RAK Properties presence on the ADX and foster investor confidence by facilitating efficient and transparent trading mechanisms.