Dubai Taxi appointed BHM Capital as a Liquidity Provider in Dubai Financial Market

BHM Capital Financial Services PJSC, a leading financial institution in the UAE financial markets, has been appointed as a Liquidity Provider for Dubai Taxi Company PJSC, listed in the Dubai Financial Market (DFM).

According to the agreement, BHM Capital will provide liquidity for Dubai Taxi’s shares listed on the Dubai Financial Market (DFM) as the regulated market by entering two-way daily quotes into the market trading system in compliance with the regulations set by Dubai Financial Market (DFM) and the UAE Securities and Commodities Authority (SCA).

This decision is a direct outcome of a solid agreement between both parties, established after the highly successful initial public offering (IPO) of Dubai Taxi, owned by the Dubai Government's Department of Finance. The IPO was the largest in the history of the Dubai Financial Market, with subscription requests exceeding AED 150 billion for all segments combined. The IPO was limited to 24.99% of the company's capital, equivalent to 624.75 million shares.

According to the agreement, BHM Capital will provide liquidity for Dubai Taxi’s shares listed on the Dubai Financial Market (DFM) as the regulated market by entering two-way daily quotes into the market trading system in compliance with the regulations set by Dubai Financial Market (DFM) and the UAE Securities and Commodities Authority (SCA).

Abdel Hadi Al Sa’di, the CEO of BHM Capital, is pleased that Dubai Taxi has joined the list of local companies benefiting from their liquidity services. He stated: “This move will enhance the company's position in the Dubai Financial Market, stabilize the price movements of its traded shares, and enable investors to diversify their investment portfolios, taking advantage of opportunities in financial markets.

Al Sa’di thanked the leadership team at Dubai Taxi for their trust in BHM Capital, highlighting the company's extensive experience in financial markets and its partnerships with various government and private entities, as well as major companies regionally and globally. He emphasized the company's commitment to facilitating the trading of Dubai Taxi's listed shares for both individual and institutional investors.