Aramex ups foreign ownership to 49pc
Dubai, July 1, 2009
Aramex, the global logistics solutions provider whose shares are listed on the Dubai Financial Market (DFM), has announced that foreign investors could own up to 49 per cent of the company’s share capital with effect from today (July 1).
The offer is open to all those who are not nationals of the UAE or the Gulf Cooperation Council (GCC) states, said a statement from Aramex.
The move comes following the ratification by the UAE Ministry of Economy of a resolution approved at a recent Aramex Extraordinary General Meeting, stating that share ownership by GCC and UAE nationals should be treated at par.
Collectively, their ownership of Aramex shares should not be less than 51 per cent at any time, the minsitry had stated.
Since the listing of its shares on the DFM in 2005, Aramex has consistently attracted high levels of foreign ownership of its shares, and continues to attract such interest from long-term foreign institutional investors.-TradeArabia News Serivce