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Wed 20 Nov 2019 02:21 PM

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UAE's Amanat hires liquidity provider to boost share performance

GCC's largest healthcare and education investment company appoints Shuaa Capital International Ltd following DFM approval

UAE's Amanat hires liquidity provider to boost share performance

Amanat Holdings is the GCC’s largest healthcare and education investment company.

Amanat Holdings, the GCC’s largest healthcare and education investment company, on Wednesday said it has appointed Shuaa Capital International Ltd, a subsidiary of Shuaa Capital, as a liquidity provider for its shares following approval from the Dubai Financial Market.

Shuaa will act independently of Amanat within the defined parameters of their agreement and in accordance with the regulatory requirements as a liquidity provider starting immediately, a statement said.

Tristan de Boysson, CEO of Amanat said: “We continue to be committed to creating value for our shareholders and the appointment of a liquidity provider will support us in doing so.
"The purpose of this agreement is to enhance the liquidity of Amanat shares and support shareholder value by reducing the impact of volatility and improve trading parameters for existing and potential investors.”

Shuaa Capital International Ltd, through its liquidity provision services, helps to maintain tight spreads, increase trading volumes, reduce transaction costs and lower volatility, reducing the overall liquidity risk discount to the price of listed shares of issuers.

Earlier this month, Amanat recorded a 38 percent increase in nine-month net profit to AED33.4 million on total income from investments of AED52.1 million.

The 64 percent increase in income from investments was led by strong contribution at the education platform, driven by positive performance from the fully-owned Middlesex University Dubai (MDX) which accounted for AED18.3 million, Amanat said in a statement.

The company also reported positive contribution from the finance lease income related to the real estate assets of the North London Collegiate Schools Dubai (NLCS), recorded at AED20.6 million in the first nine months of 2019.

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