Abu Dhabi Aviation to open trading for foreigners

Trading will be effective on January 19, 2020

  
Visitors look at aircrafts during the Abu Dhabi Air Expo February 25, 2014. REUTERS/Stringer . Image used for illustrative purpose.

Visitors look at aircrafts during the Abu Dhabi Air Expo February 25, 2014. REUTERS/Stringer . Image used for illustrative purpose.

REUTERS/Stringer

Abu Dhabi – Abu Dhabi Aviation Company, listed on the Abu Dhabi Securities Exchange (ADX), on Thursday requested to open the trading on its shares for foreigners by a percentage not exceeding 30% of the share capital.

The company further requested this procedure to be effective on Sunday, 19 January 2020, according to a bourse statement.

Moreover, the aviation firm has obtained the approval of competent authorities, including the Securities and Commodities Authority (SCA) and the Department of Economic Development (DED).

It is worth noting that the announcement also builds on the resolution taken during the general assembly’s meeting held on Sunday, 13 October.

Source: Mubasher

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