District cooling company Tabreed has appointed Arqaam Securities, a regional financial institution as its liquidity provider for its shares listed on Dubai Financial Market (DFM). The move is part of Tabreed’s ongoing efforts to enhance the trading dynamics of its shares by improving liquidity and creating a more accessible market for investors.
Under the terms of a 12 month agreement, Arqaam Securities will commence liquidity provisioning for Tabreed shares by entering two-way quotes into the market trading system. These quotes will adhere to specific parameters and comply with regulations and controls set by DFM and the UAE Securities and Commodities Authority (SCA).
This mechanism aims to narrow the bid-ask spread, reduce volatility, and instill investor confidence. All necessary approvals have been obtained, and the service is scheduled to commence on 22 October 2025. During the period, Arqaam Securities’ ownership of Tabreed shares will never exceed 5% of the total outstanding shares, said a statement.
Tabreed currently has a free float of 18.1% and is fully open to foreign investment. Mubadala and ENGIE are its two shareholders. Tabreed’s appointment of a licensed liquidity provider underscores its commitment to providing a smoother trading experience for investors and a more stable and liquid market environment.
Tabreed’s Chief Executive Officer, Khalid Al Marzooqi said, “This appointment is first and foremost about our shareholders. With Arqaam as our Liquidity Provider on DFM, we aim to enhance access to Tabreed’s shares, giving investors greater flexibility in dynamic markets and reinforcing our focus on sustainable, long-term value creation.”
Veselin Tilev, Head of Market Making at Arqaam added, “We are delighted to offer our Liquidity Provision services on the Dubai Financial Market to Tabreed, reinforcing our commitment to enhancing market depth and trading efficiency in the UAE. With our proven track record and deep understanding of local market dynamics, we are confident that Arqaam will contribute meaningfully to improving liquidity and facilitating active, orderly trading in Tabreed’s shares on the DFM.”
In the first half of 2025, Tabreed said it experienced steady growth driven by increased cooling demand and record capacity additions that boosted total connected capacity to 1.37m RT. Since then, the company has completed two significant transactions, expanding its connected capacity to approximately 1.55m RT.
These transactions have accelerated Tabreed’s expansion, including the acquisition of PAL Cooling alongside CVC DIF and the securing of a long-term Palm Jebel Ali district cooling concession in partnership with Dubai Holding Investments. These transactions have enhanced the company’s platform and reinforced concession-backed cash flows and long-term earnings visibility.
Following this, Tabreed’s shareholders approved its first-ever interim dividend of 6.5fils per share on 15 September 2025. This dividend amounted to US $50.36mn for the first half of 2025. The approval reflects the confidence in company’s momentum and its commitment to delivering sustainable returns to shareholders, the statement concluded.
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