DUBAI (Reuters) – Dubai’s stock exchange will make presentations to investors in London next month to try to woo foreign cash into stocks listed on the market, the bourse said.
Stock markets around the Gulf Arab region are looking to attract foreign investment after a crash last year which saw four of the region’s seven bourses lose more than 35 percent of their value.
Dubai Financial Market (DFM) officials and representatives of 12 other companies will meet managers of international funds on May 22 and 23, the bourse said in a statement posted on the market regulator’s Web site on Sunday.
“Only those DFM-listed companies that are most active and allow foreign share ownership will take part in the road show,” it said.
Representatives of Emaar Properties, Dubai Islamic Bank, Amlak Finance, Shuaa Capital Dubai Investments Co., Arabtec Holding, du, Tamweel, Aramex, Salam International Investment, National Central Cooling Co. and Union Properties would make presentations to investors, the bourse said.
Many Gulf Arab companies restrict foreign ownership of their shares.
State-controlled Emaar, the largest Arab property developer by market value, allows investors who are not nationals of the United Arab Emirates and five other Gulf Arab states to own up to 49 percent of its stock.