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Shares of Etisalat and Emirates Integrated Telecommunications Company, also known as du, jumped more than 14 per cent after the telecommunications operators said they are considering an increase in the foreign ownership limit in their stocks.
Etisalat, the biggest telecoms company in the UAE, soared 14.9 per cent to Dh20.80 per share at close on Tuesday, boosting the Abu Dhabi Securities Exchange general index by 3.14 per cent.
Du s shares surged 14.6 per cent to Dh6.69, lifting the Dubai Financial Market General Index by 1 per cent.
Du s board will meet on January 20 “to consider the increase in the ownership percentage of non-UAE citizens in the company’s shares”, it said in a regulatory filing.