UAE�s Etisalat to open shares to foreigners

AFP, ABU DHABI: Foreign individuals and institutional investors will be allowed for the first time to buy shares of UAE telecoms giant Etisalat from September 15, the company said in a statement yesterday.
Etisalat, the second largest Arab telecoms firm after Saudi Telecom, serves 145 million customers in 15 countries.
Previously only Emirati individuals were allowed to own shares in the firm, which is 60 per cent owned by the UAE government.
It decided in June to open up ownership to foreign individuals and investors of the 40 per cent of the firm in private hands.
“Trading in Etisalat Group’s shares on the Abu Dhabi Stock Exchange by non-UAE individuals... will start on Tuesday, 15 September 2015,” said a statement from the firm’s board posted on the exchange’s website.

UAE�s Etisalat to open shares to foreigners

AFP, ABU DHABI: Foreign individuals and institutional investors will be allowed for the first time to buy shares of UAE telecoms giant Etisalat from September 15, the company said in a statement yesterday. Etisalat, the second largest Arab telecoms firm after Saudi Telecom, serves 145 million customers in 15 countries. Previously only Emirati individuals were allowed to own shares in the firm, which is 60 per cent owned by the UAE government. It decided in June to open up ownership to foreign individuals and investors of the 40 per cent of the firm in private hands. Trading in Etisalat Groups shares on the Abu Dhabi Stock Exchange by non-UAE individuals... will start on Tuesday, 15 September 2015, said a statement from the firms board posted on the exchanges website.