Dubai Investments said on Wednesday that it has raised foreign ownership limit in the company from 35 percent to 49 percent.
A proposal was approved by shareholders at the General Assembly Meeting, the company said in a statement.
It said raising the limit to 49 percent is part of a wider move by Dubai Investments to open up to international investors.
Sohail Faris Ghanim Al Mazrui, chairman of Dubai Investments, said: “The proposal to raise the cap to 49 percent of the capital was aimed at encouraging share ownership to more foreign investors. The company feels that there is an appetite among foreign investors to invest – which is restricted by keeping the cap at 35 percent.”
The foreign ownership cap on Dubai Investments shares was initially 20 percent when it listed on Dubai Financial Market in 2000. It was raised to 35 percent in 2014.For all the latest business news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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