After the success of its first cooperation with “Tharwa” and its share recording remarkable activity and outstanding performance in the main market in the first quarter of 2021
“Aleid Foods” Company indicated that the stock market announced the registration of Kuwait Financial Center Company “Al-Markaz” as a new market maker for its shares after it increased placing second in the first quarter of 2021, with a rate of 122%.
Mutaib Al-Masoud, Director of Investor Relations at Aleid Foods, explained that this is a qualitative leap primarily towards achieving growth for Aleid Share and supporting its development with deliberate stability, which positively reflects the company’s commitment to its future vision and achieving sustainable growth for its partners and shareholders.
Al-Masoud stressed the importance of the market maker starting by its role in reducing liquidity-related risks and contributing to finding a fair price for the company’s shares. He also praised “Al-Markaz” distinguished position as one of the leading financial institutions in the Middle East and North Africa in asset management and investment banking, with total assets of 988 million Kuwaiti dinars (3.27 billion US dollars) managed as of March 31, 2021.
In turn, Azzam Al-Otaibi, Assistant Director at “Al-Markaz” Shares Department in the Middle East and North Africa, stated that “Al-Markaz” selection of Aleid Share was based on several factors, the most important of which are the distinctive features of its restructuring plan, the clear vision for the company’s future, and its integrated strategy that supports its continuous growth and operations, led by a dynamic team with flexible mechanisms in dealing and interacting with the company’s plans to expand locally and regionally.
Al-Otaibi added that market-making services aim at finding a continuous balance between supply and demand and bridging the gap between the buying and selling prices. “Al-Markaz” provides market-making services using the best systems complying with the best international practices, managed by a team of experts in stock trading operations, to provide the best investment opportunities and solutions matching clients’ requirements.
Al-Masoud concluded by valuing the role of “Tharwa Investment” Company the first market maker for the “Aleid Foods” Share, in activating the company’s share in the stock market, which recorded a remarkable activity and outstanding performance in the main market, stressing its contribution to enhancing trust and constructive transparency with investors, and finally wishing further progress and prosperity for the effective cooperation between the two parties.