Foreigners now allowed to own up to 20% of Mashreq shares | The National

Foreigners now allowed to own up to 20% of Mashreq shares | The National:

"Mashreq will allow foreigners to own up to 20 per cent of its shares following approval from the market regulator, a move that is expected to boost trading activity for an otherwise illiquid stock.

In a regulatory filing, the lender requested the Dubai bourse to “kindly initiate necessary process” that would result in the foreign ownership limit increasing from from 1.9 per cent to 20 per cent, effective from yesterday.

Mashreq’s shares are illiquid and have traded on just 13 days so far this year. The decision to open up the bank’s foreign ownership limit is expected to alleviate challenges for investors who typically struggle with entry and exit positions."

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