Dubai's Union Properties to seek foreign ownership increase | Reuters:
"Dubai developer Union Properties UPRO.DU is to seek board approval to increase the percentage of shares which foreign investors are allowed to hold in the company, its chairman said on Wednesday.
The move is part of a wider trend by companies in the United Arab Emirates and Qatar to review their often-low foreign ownership caps ahead of their admittance into the MSCI Emerging Markets Index in May.
"We are studying how much we could increase (the foreign ownership limit) to and will recommend to the board by December," Khalid bin Kalban, chairman of Union Properties, told reporters at a media event in Dubai.
At present, non-UAE nationals can own up to 15 percent of the developer, a favourite stock among retail investors on the Dubai Financial Market."
'via Blog this'
No comments:
Post a Comment