Beltone starts market-making in Orascom Construction shares on Nasdaq Dubai
Beltone Market Maker, a subsidiary of Beltone Financial Holding, one of Egypt’s leading investment banks, has begun providing market-making services in the shares of Orascom Construction on Nasdaq Dubai.
The move supports liquidity in the shares of Orascom Construction, one of Egypt’s most prominent companies, which listed on Nasdaq Dubai in March 2015.
Dr. Sameh EL-Torgoman, Chairman of Beltone Financial Holding, said: “Our market-making services benefit global as well as regional investors who wish to trade Orascom Construction shares on the Middle East’s international exchange. We look forward to market-making other Nasdaq Dubai securities as well as the exchange attracts new listings from Egypt and elsewhere.”
Hamed Ali, Chief Executive of Nasdaq Dubai, said: “The growing capital markets links between the UAE and Egypt are playing an important role in the expanding financial and economic cooperation across the region. This trend benefits both issuers who wish to raise capital and investors seeking easy access to the shares of attractive companies on an exchange regulated to international standards.”
Hazem Abdel-Mohsen, Managing Director of Beltone Market Maker, said: “Market making Orascom Construction shares on Nasdaq Dubai is just the beginning of cooperation between Beltone Market Maker and Nasdaq Dubai. We look forward to solid market activity on Orascom Construction shares so we can start exploring other opportunities to diversify the trading options for the entire MENA region.”
Beltone Market Maker acquired a licence to market-make on Nasdaq Dubai securities in August 2015. Market-making involves offering simultaneous bid and offer prices in a security, supporting liquidity, attractive pricing and trading activity.