big rush for etisalat shares as uae opens ownership
Sunday 6 July 2025
Last Updated : GMT 05:17:37
Emiratesvoice, emirates voice

Big rush for Etisalat shares as UAE opens ownership

Emiratesvoice, emirates voice

Emiratesvoice, emirates voice Big rush for Etisalat shares as UAE opens ownership

UAE telecom giant Etisalat
Abu Dhabi - AFP

Local investors have gone on a buying spree to stock up on shares in UAE telecom giant Etisalat after the government decided to open it up to foreigners, an analyst said Wednesday.

The government owns 60 percent of Etisalat, the Arab world's second-largest telecom firm, and wants to keep that stake, while the remaining 40 percent is owned by local investors.

Etisalat said Monday the federal government had decided to allow foreign investors to buy 20 percent of the company's shares.

In reaction, the share price rose the maximum allowable 15 percent Tuesday, hitting the mark again Wednesday, before profit-taking pared the daily gain to 5.07 percent.

The 14.50 dirham closing price was the highest in almost 10 years.

As many as 13.77 million Etisalat shares changed hands -- the largest volume in almost two years -- valued at $58 million (51.8 billion euros).

"It is clear that local investors are buying heavily in preparation for when the company is opened to foreign investors," said Sebastien Henin, head of asset management at Abu Dhabi-based The National Investor.

"Another reason is that Etisalat stocks have been trading for a long time well below their fair value," Henin told AFP.

The brisk trading on heavily weighted Etisalat helped push the Abu Dhabi Securities Exchange index up 1.4 percent Wednesday to 4,821.52 points.

Etisalat serves 145 million customers in 15 countries.

 

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

big rush for etisalat shares as uae opens ownership big rush for etisalat shares as uae opens ownership

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

big rush for etisalat shares as uae opens ownership big rush for etisalat shares as uae opens ownership

 



GMT 10:31 2014 Tuesday ,23 December

Mirages of failure: Lebanon cannot wait

GMT 05:17 2024 Wednesday ,07 February

Amazon to open first cashierless shop

GMT 11:14 2017 Saturday ,22 July

Smiley face found on ancient pot in Turkey

GMT 00:49 2017 Friday ,13 January

Meet Cats choreographer Gillian Lynne

GMT 09:57 2016 Tuesday ,08 November

Marks and Spencer: To shut 100 stores in overhaul

GMT 06:37 2012 Wednesday ,21 March

Toxins found in cheap jewellery

GMT 10:30 2015 Monday ,02 March

Designer to the stars dresses disabled catwalk

GMT 08:57 2017 Wednesday ,10 May

Counter terrorism strategies should be compliant

GMT 20:48 2017 Wednesday ,22 March

Sisi reiterates Egypt's support for Lebanon

GMT 06:59 2017 Sunday ,22 October

Philippines' Duterte says he will shoot criminals

GMT 19:57 2018 Tuesday ,23 January

Farm-fresh from Kerala to the UAE, in just one day

GMT 09:36 2018 Wednesday ,10 January

Iran investigates death of young man in custody

GMT 08:51 2017 Tuesday ,15 August

HAAD implements next stage of healthcare reforms

GMT 20:22 2017 Monday ,27 November

Army attacks Saudi-paid mercenaries’ sites in Marib

GMT 08:56 2017 Thursday ,13 July

Reasons of price increase of services

GMT 08:13 2017 Sunday ,13 August

Abdul Hussain Abdul Redha passes away
 
 Emirates Voice Facebook,emirates voice facebook  Emirates Voice Twitter,emirates voice twitter Emirates Voice Rss,emirates voice rss  Emirates Voice Youtube,emirates voice youtube  Emirates Voice Youtube,emirates voice youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

emiratesvoieen emiratesvoiceen emiratesvoiceen emiratesvoiceen
emiratesvoice emiratesvoice emiratesvoice
emiratesvoice
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
emiratesvoice, Emiratesvoice, Emiratesvoice