Dubai Investments Appoints xCube as Liquidity Provider to Boost Market Presence

Dubai Investments PJSC has announced a strategic partnership with fintech leader xCube to enhance the liquidity of its shares on the Dubai Financial Market.

Dubai Investments Appoints xCube as Liquidity Provider to Boost Market Presence

Summary

Dubai Investments PJSC has partnered with xCube, a leading fintech company, to serve as the liquidity provider for its shares listed on the Dubai Financial Market. This move aims to enhance shareholder value by improving the liquidity and tradability of the company's shares.

Dubai Investments PJSC (DFM:DIC), a diversified investment group with a broad portfolio of businesses, has announced the appointment of xCube, a leading fintech company and market maker, as the Liquidity Provider for its shares listed on the Dubai Financial Market (DFM). This strategic partnership, effective from June 11, 2024, is set to significantly enhance the liquidity and tradability of Dubai Investments' shares.

Under the terms of the one-year agreement, xCube will independently trade Dubai Investments shares, entering two-way daily quotes into the market within the defined parameters of the mandate, and in compliance with regulations set by the Dubai Financial Market (DFM) and the Securities and Commodities Authority (SCA). All necessary regulatory approvals have been secured, ensuring a seamless implementation of this initiative.

Khalid Bin Kalban, Vice Chairman and CEO of Dubai Investments, expressed his optimism about the partnership, stating, 'The strategic decision to appoint xCube as a liquidity provider shows our commitment to increase shareholder value by enhancing liquidity. This improvement of liquidity will directly benefit Dubai Investments shareholders by facilitating the trading of the shares more easily in the short term and promoting a higher valuation in the long term.'

Saad Chalabi, CEO of xCube, echoed this sentiment, adding, 'We are grateful for the trust Dubai Investments has placed in us. Our aim is to leverage our technology and expertise in local markets to optimize the liquidity of Dubai Investments shares. This will support investors when trading on Dubai Investments shares by decreasing the bid-ask spread and decreasing unwanted liquidity-driven volatility.'

Dubai Investments PJSC, established in 1995, is one of the largest investment companies in the UAE. With an active investment approach, managing a diverse portfolio of businesses, Dubai Investments embarked on a pioneering journey, becoming one of the first companies to be listed on the Dubai Financial Market (DFM). With an 11.5% ownership from the Investment Corporation of Dubai (ICD), 15,558 shareholders, a paid-up capital of AED 4.25 billion and total assets worth AED 21.46 billion, the Company’s diverse portfolio consists of 30+ wholly and partly owned companies. The Company has applied insight and experience to organically expand and be a reliable growth driver for businesses within sectors like real estate, building materials, construction, financial services, healthcare, and education among others.

Given the strategic move to enhance liquidity and the company's robust portfolio, the future looks promising for Dubai Investments. The partnership with xCube is likely to attract more investors, reduce trading volatility, and potentially increase the stock's valuation. Therefore, it is advisable for current and prospective investors to consider holding their positions in Dubai Investments, as the company continues to demonstrate its commitment to growth and shareholder value.

Source

Press release regarding appointment of Liquidity Provider

Summary

Dubai Investments PJSC (DFM:DIC) has appointed xCube, a fintech company and market maker, as the Liquidity Provider for its shares listed on the Dubai Financial Market (DFM). The one-year agreement allows xCube to independently trade Dubai Investment shares starting June 11, 2024, by entering two-way daily quotes in compliance with DFM and SCA regulations. Khalid Bin Kalban, Vice Chairman and CEO of Dubai Investments, emphasized that this strategic move aims to enhance shareholder value by improving liquidity, facilitating easier trading in the short term, and promoting higher valuation in the long term. Saad Chalabi, CEO of xCube, expressed gratitude for the trust placed in them and highlighted their goal to optimize liquidity, reduce bid-ask spreads, and decrease unwanted liquidity-driven volatility. Dubai Investments, established in 1995, is one of the largest investment companies in the UAE, managing a diverse portfolio across various sectors.

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