Emirates Telecommunications Group Company has announced that foreign and institutional trading of its shares on Abu Dhabi Stock Exchange will start on September 15th.
In a press release, the company said, “Further to our announcement on 18th August 2015, Emirates Telecommunications Group Company PJSC, Etisalat Group, would like to inform you that the Etisalat Group Board of Directors have approved by circulation the controls and procedures governing foreign ownership, based on Etisalat Group’s new Articles of Association.”
Trading in Etisalat Group’s shares on the Abu Dhabi Stock Exchange (ADX) by non-UAE individuals (foreign individuals, foreign corporate entities, UAE free zone entities and UAE incorporated entities) will start on Tuesday, 15th September 2015, the company said and added, that foreign ownership as defined by Etisalat Group’s Articles of Association will be limited to 20% of the share capital.
