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The Abu Dhabi National Hotels (ADNH), which owns and operates hotels and restaurants across the UAE, is lifting the foreign ownership limit of its shares, according to the Abu Dhabi Securities Exchange (ADX).
In a statement on Friday, the ADX said that the new ownership limit on the hotel operator’s shares will take effect from Monday, June 20, 2022
“There is no maximum limit for non-UAE nationals, whether natural or legal persons, to own the company’s shares, the bourse said.
The UAE government has recently amended its Commercial Companies Law to grant foreigners full ownership of certain businesses. The amendment effectively removes the maximum limit of 49 percent for foreign investors’ shares.
ADNH operates several hotels under popular hospitality brands such as Radisson Blu, Ritz Carlton, Park Hyatt, Sofitel, Le Meridien, Sheraton and Address.
(Reporting by Cleofe Maceda; editing by Seban Scaria)
