DUBAI, March 23 Dubai Investments, a
diversified manufacturer and investor in property, plans to
increase the limit on foreign ownership of its shares to 35
percent of its total capital, the company said on Sunday.
Foreign investors now hold 13.7 percent of Dubai
Investments' shares out of the total 20 percent allowed, bourse
The firm's shareholders, including sovereign fund Investment
Corp of Dubai which has an 11.5 percent stake, will vote on the
proposal at a meeting on April 15, the company said.
The proposal follows similar moves by other Dubai-listed
companies such as property developers Deyaar and Union
Properties, and Mashreq bank.
Companies in the United Arab Emirates and Qatar are
reviewing their foreign ownership caps before international
index compiler MSCI raises those countries to emerging market
status in May, which is expected to attract fresh foreign money.
(Reporting by Olzhas Auyezov; Editing by Mirna Sleiman and