Dubai – Mubasher: Drake and Scull International (DSI) on Wednesday announced that the foreign ownership limit (FOL), which is used to calculate its free float weight on the FTSE Russell Index, had grown to 39% after the release of December 2017 review.

The upgrade succeeded DSI’s inclusion in the MSCI GCC Index in December and came as a result of the increased market confidence in the company’s performance, following the completion of its recapitalisation programme, DSI said in a statement.

DSI’s stock on the FTSE Russell Index is expected to increase by 5% in March after the execution of a turnaround plan, which paves the way for flourished financial and operational performance, the company added.

“We are firmly committed to continue our comprehensive recovery and undertake more proactive measures to enhance our transparency, governance and efficiency,” Rabih Abou Diwan, investor relations director at DSI, commented.