Dubai – Mubasher: Aramex has raised the foreign ownership limit to 100% from 49% to become the first onshore Emirati company listed on the Dubai Financial Market (DFM) to allow for full ownership by foreign investors.

This decision was made after the company had received the necessary approvals from the Securities and Commodities Authority (SCA) and all other relevant regulatory authorities, according to a recent press release.

Allowing for full ownership aligns with Aramex’s global growth ambitions and attracts more foreign capital inflow into the DFM.

The Chairman of Aramex, Mohamed Juma Alshamsi, said: "Through investment in Aramex, investors will gain exposure to one of the most critical sectors in the UAE, a well-diversified and strategically located country connecting East to West."

The CEO of Aramex, Othman Aljeda, commented: "We are creating value through a redesigned operating model underpinned by a healthy balance sheet. M&A is a key element of our business strategy and we are looking at several value accretive deals that could add substantial inorganic growth."

It is noteworthy to mention that in the first quarter (Q1) of 2022, the company's net profits attributable to the equity holders hiked to AED 47.30 million from AED 46.01 million in the year-ago period.