A record 560,500 shares in the Dubai property company Emaar changed hands Monday on the Dubai Financial Market, Mid-East Financial Information (AME Info) reported Tuesday. But the price was unchanged at Dhs22, AME said.
Emaar Properties was is the first company in the country to allow foreigners to buy shares.
One of the largest real estate firms in the country, Emaar Properties opened a share offer to expatriates and foreigners from September 18. Non-UAE nationals were allowed to purchase a maximum 20 percent of Emaar's capital.
The company is capitalised at Dhs 2.65 billion ($721,577,341m) through 265 million shares, each of face value Dhs 10. The Dubai government holds a 32 per cent stake, with another 30-40 per cent held by long-term investors -- Albawaba.com
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