Amanat Holdings to allow 100% foreign ownership of shares

Amanat Holdings PJSC has expanded the limit of foreign ownership of the company’s shares to 100 per cent, it said in a stock market filing on Thursday.

Amanat said all necessary approvals have been obtained from the Securities and Commodities Authority to raise the ceiling from the earlier 49 per cent.

“Accordingly, we would like to notify the shareholders that the amendment will commence on Tuesday morning, September 6, 2022, before trading hours start,” it said in a note to the Dubai Financial Market.

The announcement comes days after Dubai-based Emaar Properties said it would allow 100 per cent foreign ownership.