Mashreq allow foreign ownership up to 49%

Mashreq has today announced, pursuant to its Articles of Association and Federal Companies Law number 8 for the year 1984 and its subsequent amendments, to give foreign investors the opportunity to own up to 49% of its capital as it prepares for the incorporation of UAE stocks into the Morgan Stanley Capital International (MSCI) Index in May. This reclassification into emerging markets status will make UAE stocks, including Mashreq, more attractive to foreign investors, who are expected to inject up to AED one billion into UAE stocks following the reclassification.

By giving foreign investors the opportunity to own up to 49% of Mashreq’s capital, the bank will become more attractive to the power of global institutional investors and the wealth of international capital markets. In turn, they will benefit from the Bank’s solid performance and its reputation as one of the leading and most innovative financial institutions in the UAE.

H.E. Abdul Aziz Al Ghurair, CEO of Mashreq said: A global market needs a global welcome, this is something we at Mashreq are proud to give when the world’s eyes will turn towards the UAE’s stocks on the back of its upgraded emerging markets status later this year. The UAE has already proved it is home to some of the world’s most innovative companies, and foreign investment will open these companies right up to some of the most powerful institutional investors in the world.”