MUSCAT: Omani financial services company Ubhar Capital has been appointed as a liquidity provider for OQ Gas Networks (OQGN), listed on the Muscat Stock Exchange, after obtaining the necessary approvals from the regulatory authorities.
Ubhar Capital is the Iargesl and most diversified financial services provider in the Sultanate of Oman with more than thirty partnerships in the countries of the region and twenty other business relationships across more than dozens of countries.
Ubhar Capital was the first company to obtain a license to practice market making and liquidity providing activities on the Muscat Stock Exchange. The company has the necessary technical and administrative capabilities to provide the service.
Ubhar Capital will begin trading in OQGN shares from March 3, 2024 independently, within specific controls and standards according to the requirements of the regulatory authorities. The liquidity provider is appointed to enhance liquidity on the shares of listed companies and meet their needs through the trading mechanism to reduce the discrepancy between the bid and ask prices, and work to raise the daily trading volume and reduce price fluctuations, which reduces the risk of weak liquidity on the listed shares.
Shaikh Abdul Aziz aI Sa’adi, CEO of Ubhar Capital, commented: "We are pleased to have been appointed as a Liquidity Provider for OQGN. Ubhar Capital will aim to create healthy and consistent levels of trading, improving the bid/ask spread and enhancing the order book. Liquidity provision has proven its efficacy in improving liquidity, which reflects on the shareholder value and is an indicator of the issuer’s commitment to shareholders. We welcome OQGN on board, and we assure its shareholders of our commitment to deliver the agreed upon mandate." Caption: The shares of OQ Gas Networks are traded on the MSX
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