Dubai: Early trade orders propelled First Abu Dhabi Bank (FAB) shares to its highest level in 52 weeks.
FAB shares started with an opening trades of 3.92 million shares, contributing to nearly half of its total traded volume of 8.59 million shares. FAB shares rose as much as Dh15.560, before trading 4.45 per cent higher at Dh15.50. As a result, the Abu Dhabi Securities Exchange general index jumped more than 2.2 per cent to be at 5,163.95.
The bank in a statement on late Thursday had announced of the regulatory nods to hike its foreign ownership limit to 40 per cent from 25 per cent.