Abu Dhabi-based Finance House (FH) has approved opening up of shareholding to foreign ownership to an extent of 20 per cent of its paid up equity share capital.

An Extraordinary General Meeting (EGM) approved this proposal.

Mohammed Abdulla Alqubaisi, chairman, said: "We are pleased with this step. On this occasion, I would like to invite investors from across the region and internationally to participate in the growth of Finance House, which has proven to be one of the fastest growing groups in the region.”

Finance House, listed on Abu Dhabi Securities Exchange, is categorized as a “Grade One” company by ESCA. Earlier this year, it announced a net profit of Dh115.1 million for 2010. – TradeArabia News Service