Aramex announced that it has obtained the necessary approvals from the Securities and Commodities Authority and other relevant regulators to raise the foreign ownership limit for the company's shares from 49% to 100%. Thus, "Aramex" becomes the first local company listed on the Dubai Financial Market to allow foreign investors full ownership of its shares available for trading.
Mohamed Juma Al Shamsi, Chairman of the Aramex Board of Directors, said: This step constitutes an important achievement for Aramex in particular, and the financial markets in the UAE in general, according to Al Bayan newspaper.
This decision came in light of the important amendments in the laws of foreign ownership and investment in the country in accordance with the directives of our wise leadership, announced during the year 2020, which will, to In addition to the policies that support investors, it should strengthen corporate governance practices and mechanisms, in a way that contributes to protecting the interests of all shareholders.
Al Shamsi added, "Aramex continues to implement its clear and well-studied strategic plan to achieve its ambitious aspirations, continue its growth path, and achieve its mission in linking the world's economies and facilitating global trade flows. We believe that it is the perfect timing to provide a fair opportunity for investors from all over the world to invest in the journey that advances Aramex and to benefit from its promising potential for sustainable growth.
Investing in Aramex will provide investors with an unparalleled opportunity to enter one of the most vital sectors in the UAE, which in turn is characterized by its diversity and strategic location as a link between East and West, to The aspect of executing their investment deals through a financial market is one of the most vibrant and regulated.”
For his part, Othman Al-Jedda, CEO of Aramex, said: By raising the limit on foreign ownership of Aramex shares, we will provide investors with a unique opportunity to invest in the company. , while embarking on the next stage of its growth and expansion process, based on its focused and studied strategy. Our efforts continue to provide added value to our shareholders by adopting a new operating model and benefiting from our strong balance sheet.
We continue to focus on mergers and acquisitions as an essential component of our business strategy, and are currently studying several promising deals that will bring cumulative added value to the company and accelerate its growth plans through profitable partnerships and acquisitions. .
And Al-Jedda continued: The move to raise the foreign ownership limit will contribute to enhancing the value of "Aramex" stock, which is listed on the "FTSE" emerging markets indexes and "MSCI" for markets. Therefore, it is expected that Aramex will benefit from increased inflows of funds from passive investments targeting these two prominent indicators.
