Abu Dhabi-based Al Qudra Holding has allowed 30 percent of its capital to be owned by non-UAE nationals following a decision passed at its general assembly meeting.

The company has also increased its capital to AED 5.508 billion ($1.5 billion) following the acquisition of Al Tamouh Investment for AED 2.244 billion, which was also approved at the meeting.

On Wednesday, UAE’s Alpha Dhabi Holding (ADH) acquired a 25.24 per cent shareholding in Al Qudra Holding, as part of its strategic investment plan across key sectors in the UAE.

Trading in Al Qudra by foreigners has already commenced, the company said in a statement to Abu Dhabi Securities Exchange (ADX).

(Writing by Imogen Lillywhite; editing by Seban Scaria)

imogen.lillywhite@lseg.com

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