Mashreq to offer foreigners upto 20pc shares
Dubai, September 18, 2013
Dubai's Mashreq will allow foreigners to own up to 20 per cent of the bank's shares, it said in a bourse statement on Wednesday.
Foreign investors currently own only 1.9 per cent of the bank's shares, data from the Dubai Financial Market shows. The change in foreign ownership is effective from Thursday, Mashreq said.
About 20 per cent of Mashreq's shares are free float, while the Al-Ghurair family holds a 70 per cent stake, according to Reuters data.
Mashreq is Dubai's third-largest bank by market value.-Reuters
More Finance & Capital Market Stories
- More support for Islamic banking urged
- Bahrain to set new takaful rules by year-end
- Oman fiscal surplus widens to $1.4bn
- Al khaliji opens new branch in Doha
- Bayzat launches online DBR calculator
- Dubai bourse tops 3,000 for first time in 5 years
- Bahrain mulls solvency rules for Takaful industry
- LuLu Exchange opens 3rd branch in Bahrain
- Saudi economic growth picks up in Q3
- GIH picks ex-Barclays banker as investment head