UAE investment firm Amanat goes live with allowing 100% foreign ownership
Emaar could soon join Amanat in making such a switch, while Aramex has already done so
Dubai: Starting today (September 6), the education and healthcare investment firm Amanat will allow foreign investors take stake of up to 100 per cent in the company. It was last week that Amanat confirmed that it was opening up its shareholding in full to all - from 49 per cent - and joining Aramex and Abu Dhabi National Hotels as entities to have done so.
Emaar, which has called a shareholders’ assembly later this month, is expected to follow suit on allowing 100 per cent across all nationalities.
Currently, foreign owners hold 6.48 per cent in Amanat, while UAE Nationals have 80.92 per cent. The rest are with GCC nationals. In early trades on Tuesday, the stock is down 0.41 per cent to Dh0.97. The stock's 52-week high is Dh1.27 and the corresponding low is Dh0.89.
Incidentally, Aramex - the logistics company - has foreign investors owning just over 43 per cent in the company as of now.
“Amanat has got investments in high-growth sectors in some of the other Gulf markets,” said an analyst. “This could make the stock an attractive one with foreign investors, much more than the 6 per cent holding now.
“The stock should get better traction with investors from the upcoming IPO from the Dubai-based school owner/operator Taaleem. Education and healthcare are up for increased investor attention in the near-term, both in the UAE and Saudi Arabia.”