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FINANCIAL NEWS
Drake & Scull raises GCC ownership limits to 100 percent
04 Jul 2015
(MENAFN) Drake & Scull raised the limit for which nationals from the Gulf Cooperation Council (GCC) can hold their shares to 100 percent from 49 percent, Arab News reported.
The Dubai-based engineering and construction company announced that the move was effective from Thursday, it said in a released statement.
Nationals from the UAE currently hold 51.02 percent of the company’s stock, with the remaining GCC nations, which include Bahrain, Kuwait, Oman, Qatar and Saudi Arabia, owning 5.85 percent, according to bourse data.
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