Dubai - Mubasher: Union Coop has appointed xCube to offer market maker service on its shares, as part of the company's preparation for listing on the Dubai Financial Market (DFM), set on 18 July 2022.
Union Coop is the UAE's first retail cooperative company that lists its shares on DFM, according to a press release on Monday.
xCube will ensure bid and offer prices on the company's shares, determine the volumes required for buying and selling, and find the balance of share price.
It is noteworthy that the indicative price of Union Coop's shares has been demarcated at AED 3.9 following a share split of 1 to 10, as each shareholder received 10 shares in exchange for 1 share they owned.
